Given the current tax rate structure and promised benefit levels, persons that are currently 40 years old or younger can expect to earn approximately what real rate of return on their Social Security contributions?
a. 0 percent
b. 2 percent
c. 10 to 12 percent
d. 15 to 20 percent
B
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Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy. B) Unemployment insurance and other government transfer programs have become more prevalent. C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system. D) Goods manufacturing has become a larger fraction of GDP.
No matter what the price of orange juice is , Jill spends $20 a week on orange juice. We can conclude that the absolute value of the price elasticity of demand for orange juice for Jill is
A) greater than 1. B) equal to 1. C) less than 1. D) equal to 0.
When Toyota introduced its 2010 Prius, it announced that the average retail price of the 2010 model would be lower than the average retail price was for the equivalent 2009 model. Which of the following would explain the price differential?
A) The demand for the Prius had increased, and the supply of the Prius remained unchanged. B) The supply of the Prius had decreased, and the demand for the Prius remained unchanged. C) The demand for the Prius had decreased, and the supply of the Prius had increased. D) The demand for the Prius had increased, and the supply of the Prius had decreased.
Technological progress in agriculture has been beneficial for _________ but harmful to __________ because the output of farm goods has grown so rapidly as a result.
a. small farmers, large farmers b. consumers, farmers c. farmers, consumers d. the United States, other countries e. other countries, the United States