Current calculations make it clear that for the vast majority of young workers, the rate of return on Social Security taxes and benefits will be
A. roughly equal to what would have been generated in private stock-market investments.
B. greater than what would have been generated in private stock-market investments.
C. lower than what would have been generated in private stock-market investments.
D. taxed more heavily than what would have been generated in private stock-market investments.
Answer: C
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Market failure results in
A. economic collapse. B. no goods being produced. C. Pareto efficiency. D. lost surplus.
After NAFTA was signed, the United States allowed more tomatoes to be imported from Mexico. What happened to the price of tomatoes in the United States when the United States allowed more tomatoes to be imported?
What will be an ideal response?
Economic theory supports the view that increasing the minimum wage will
A. increase the employment of teenagers. B. increase the number of monopsony firms. C. decrease the employment of unionized labor. D. decrease the employment of teenagers.
At the equilibrium level of GDP:
A. MV = nominal GDP. B. MV = real GDP. C. M = nominal GDP. D. V = 1/MPS.