To be eligible for Social Security benefits, an individual must have worked for _____ quarters in a covered job
a. 30
b. 40
c. 50
d. 60
b
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Social Security payments automatically increase when the CPI goes up because of the
A) years receiving social security. B) cost-of-living adjustments. C) individual being married or unmarried. D) age of the recipient.
The real quantity of money is
A) inversely related to GDP. B) measured in current dollars. C) inversely related to the price level. D) measured in constant dollars.
The long-run aggregate supply of an economy at the potential level of real GDP is graphically represented by:
a. a horizontal line. b. an upward-sloping curve. c. a downward-sloping curve. d. a vertical line. e. a backward bending curve.
Because personal tastes differ, what are substitutes for one person need not be substitutes for another person
a. True b. False Indicate whether the statement is true or false