The Social Security Administration estimates that the Social Security Trust Fund will ________ and that the Medicare Trust Fund will ________
A) become fully funded by 2036; become fully funded by 2024
B) continue to get smaller as the number of retirees increases; start to grow once funds from Obamacare are funneled to the program
C) grow slowly as more workers retire; decline slowly as medical costs rise
D) run out of funds in about 20 years; run out of funds in about 10 years
D
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Alan runs the only taxi service in town. Whenever he raises his fares above $.30 per mile, other taxi firms enter and compete with him to drive his fares back to $.30 per mile. Describe what kind of market Alan is operating in and if it is plausible that Alan might set his fare so as to achieve efficiency? Explain
In what way do policymakers have to face a trade-off between inflation and unemployment?
A. The cost of reducing inflation by restrictive fiscal and monetary policies is a temporary increase in unemployment. B. The cost of reducing inflation by restrictive fiscal and monetary policies is a permanent increase in unemployment. C. The cost of reducing unemployment by expansionary fiscal and monetary policies is virtually nonexistent. D. The cost of reducing unemployment by expansionary fiscal and monetary policies involves higher inflation during recessions.
The term _____ refers to time periods when the buying power of money in terms of goods and services increases
a. stagflation b. deflation c. hyperinflation d. recession
The Fed increases the money supply by selling bonds
a. true b. false