In an apolitical world with a constant tax rate and program characteristics, the rate of return on Social Security contributions is equal to the growth in national income
a. True b. False
a
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A spontaneous order emerges from individual decisions that cause something to "work" without anyone planning for it to "work".
Answer the following statement true (T) or false (F)
When the text refers to rational self-interest, it means
A) your looking out for what is best for you as an individual. B) your focus on your own contributions to society. C) behavior that makes society better off. D) behavior that helps your employer earn higher profits.
What type of unemployment occurs when automation replaces workers?
a. cyclical b. frictional c. seasonal d. structural
Answer the following statements true (T) or false (F)
1. The value of money in the United States is based on the stock of gold and silver held by the United States government. 2. The Federal Reserve System is independent of Congress and the President, and does not have to follow orders from either Congress or the President. 3. The Federal Open Market Committee (FOMC) regulates markets and enforces antitrust laws to keep markets open and competitive. 4. The Federal Reserve System is the institution that issues the U.S. paper currency or dollar bills. 5. The general public can open deposit accounts at their district's Federal Reserve Bank.