The Social Security Trust Fund
a. will provide a stream of future revenue for the federal government.
b. is a "pot" of money set aside for the payment of future benefits.
c. is a net asset of the U.S. Treasury worth approximately $2 trillion.
d. is of zero asset value to the federal government.
D
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If the economy may be likened to a biological organism, then the financial system may be thought of as the ________
A) brain B) stomach C) lungs D) feet
Answer the following statement(s) true (T) or false (F)
1. Social Security involves cash transfer payments. 2. The United States spends a higher portion of GDP on healthcare than any other industrialized nation. 3. The demand for healthcare has deceased over the past several decades. 4. The demand for healthcare is fairly inelastic. 5. Third-party payments act as an incentive for patients and physicians to minimize heath care costs.
If the price elasticity of demand is very elastic, which of the following could be a possible value of the elasticity?
A. 2 B. 1 C. 1/3 D. 0
The amount of a particular good that sellers in a market will sell at a given price during a specified period is called:
A. quantity supplied. B. demand. C. supply. D. quantity demanded.