Social Security retirement benefits are increased automatically each year at the rate of inflation
Indicate whether the statement is true or false
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The tendency for higher government budget deficits to decrease investment is called the
A) crowding-out effect. B) deficit effect. C) Ricardo-Barro effect. D) inflation effect. E) wealth effect.
During the recession phase of the business cycle, households become pessimistic about their future earning capacity as do banks. Nominal interest rates fall during recessions. Mortgage lending could be expected to
A) rise if the change in future earnings is thought to be greater than the change in interest payments. B) stay the same. C) fall. D) fall if the change in future earnings is thought to be greater than the change in interest payments.
Any policy change that results in a Pareto-superior allocation
A) will increase welfare under certain conditions. B) must increase welfare. C) will leave welfare unchanged. D) will have an unpredictable effect on welfare.
Whom does the Bureau of Labor Statistics include in the discouraged workers group?
a. All those between 16 and 65 who are neither disabled nor in an institution and are also neither employed nor seeking employment. b. Civilian labor force members who have chosen early retirement because they dislike their work or think the pay is too low. c. Members of the noninstitutional population who say they want to be employed but aren't searching for a job. d. Members of the civilian labor force who are looking for a job but cannot find one. e. Anyone in the population who is not working.