Need some help on economic related questions

Posted on 2014-12-12 05:37:00 in Economics by BOB

Q1. Social Security & Medicare programs are sometimes known as:

a. Social extensions.
b. Entitlement programs.
c. Free money
d. Bonus programs.
e. Compensation programs.

Q2. A major difference between social insurance and income assistance programs is that:

a. Social insurance program are run by the states, and income assistance programs are
fun by the federal government.
b. Funding for social insurance programs comes exclusively from the federal
government, while income assistance programs are funded both at the state and
federal levels.
c. Payments in social insurance programs are related to previous contribution to the
programs, while payments in income assistance programs are not.
d. Social insurance programs are available only to households with children.
e. Income assistance programs are available only to households without children.

Q3. If a person’s wage decreases: (HiNT: Where would you spend most of your time if
unemployed?)

a. His marginal value product curve will shift to the left.
b. His marginal value product curve will shift to the right.
c. There will be a movement to the northwest along the marginal value product curve.
d. There will be more household work done or time spent at leisure
e. The slope of the marginal value product curve will increase.

---

Answer Comment

No Answers Posted Yet.