Social Security began as a "pay-as-you-go" system, meaning that payments to current retirees were paid
A) from taxes collected from current workers.
B) as the government collected revenues from tariffs and excise taxes in the years Social Security payments were made.
C) as long as the government had funds available.
D) from taxes collected from retired workers.
A
You might also like to view...
Owners of a proprietorship have ________ liability and stockholders in a corporation have ________
A) limited; limited B) limited; unlimited C) unlimited; unlimited D) unlimited; limited
The effort curve is
A) horizontal, because work effort is independent of the real wage. B) negatively sloped, because of diminishing marginal returns to labor. C) positively sloped, because of the law of increasing cost. D) S-shaped, because a small increase in the real wage will increase work effort more at an intermediate wage than at a low wage or at a high wage.
Intertemporal substitution dictates that
a. people will work less in periods of high productivity. b. people will spend more in periods of high productivity. c. people will work more in periods of high productivity. d. people will spend less in periods of high productivity.
Refer to the below graph of the supply and demand for agricultural products. Which of the following best describes the long-run decline of the U.S. agricultural industry?
A. A shift in supply from S1 to S2 and a shift in demand from D2 to D1
B. A shift in supply from S1 to S3 and a shift in demand from D1 to D2
C. A shift in supply from S3 to S1 and a shift in demand from D1 to D3
D. A shift in supply from S1 to S2 and a shift in demand from D3 to D1