The current surplus of the Social Security system is expected to become a deficit sometime around 2018 because the
a. payroll tax rate is scheduled to decline at that time.
b. number of workers relative to the number of Social Security recipients will decline as the baby boom generation moves into the retirement phase of life.
c. stock market is not expected to perform nearly as well during the next two decades as was the case during the 1980s and 1990s.
d. growth rate of the U.S. economy is expected to slow during the next two decades.
B
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Which of the following headlines would be more closely related to what macroeconomists study than what microeconomists study?
A) The United Auto Workers sign a contract raising wages and benefits 7% over the next 3 years. B) Real GDP grows by 2.3% in the second quarter. C) Avocado prices rise due to a late frost in California. D) Airlines raise ticket prices in response to rising fuel costs.
The money supply of Granov is $10,000 in a 100-percent-reserve banking system. If the Central Bank of Granov decreases the reserve requirement ratio to 10 percent, the money supply could increase by no more than $9,000
a. True b. False Indicate whether the statement is true or false
Refer to the above diagram. A price of $60 in this market will result in:
A. a shortage of 50 units. B. a surplus of 50 units. C. equilibrium. D. a surplus of 100 units.
A very high fixed cost and a relatively low marginal cost is associated with
A. an information product. B. an experience good. C. every type of good or product. D. a persuasive good.