Current tax rates are insufficient to finance the benefits promised by both the Social Security and Medicare programs. Are these unfunded promises surprising according to economic theory?
What will be an ideal response?
No, the unfunded promises reflect the shortsighted nature of the political process.
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Local government expenditures depend on which taxes?
A) revenues from licenses and permits B) local property, sales, and excise taxes C) capital gains taxes D) Social Security taxes
The expenditure category of GDP that fluctuates the most over time is investment
a. True b. False Indicate whether the statement is true or false
One way for governments to try and minimize the effects of structural unemployment is to:
A. subsidize retraining programs. B. mandate employers cannot fire anyone. C. increase unemployment benefits. D. All of these are ways that would minimize the effects of structural unemployment.
Central banks:
A. stopped being used after events like the Great Depression proved them useless. B. in the United States oversee the U.S. economy, as well as some developing nations who do not have a central bank. C. exist in almost every major nation. D. are common only to industrialized nations.