The degree to which state and local defined benefit pensions are underfunded (in present value terms) is
A. $4 trillion.
B. $12 trillion.
C. $12 billion.
D. $0.
Answer: A
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What will be an ideal response?
If the Phillips curve represents a "________ relationship," then the trade-off between unemployment and inflation is permanent
A) cyclical B) structural C) frictional D) dynamic
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What will be an ideal response?
In order to eliminate unnecessary details and highlight the essential features of an economic model, an economist makes
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