Which of the following about Social Security is true?
a. Labor participation tends to increase as spousal earnings increase.
b. Social Security works to the disadvantage of low-wage workers due to their shorter life expectancy.
c. Low-wage workers derive a higher rate of return from their Social Security taxes than high-wage workers.
d. High-wage workers generally begin full-time work at younger ages than low-wage workers.
B
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
When the price of apples goes up
A) the quantity of apples demanded will decrease, ceteris paribus. B) the demand for apples will increase, ceteris paribus. C) the quantity of apples demanded will increase, ceteris paribus. D) the demand for apples will decrease, ceteris paribus.
Mercantilism is another name given to the version of capitalism that has emerged in the globalized world of the 21st century
Indicate whether the statement is true or false
The percentage of total national income spent on health care in the United States has
A) declined rapidly since 1965. B) remained below the level of inflation. C) risen steadily since 1965. D) remained constant over the last few years.