Which of the following about Social Security is true?
a. The regressive nature of the Social Security benefit formula works to the advantage of groups with below average earnings.
b. Groups with an below average life expectancy gain from Social Security because they will typically draw retirement benefits over a more lengthy period of time.
c. The life expectancy of Hispanics at age 20 is generally lower than the figures for whites and blacks.
d. Hispanics derive a higher return from their Social Security taxes than whites, and substantially higher than blacks.
D
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The difference between the gross public debt and the net public debt is that the
A) gross public debt includes entitlements while the net public debt does not. B) gross public debt is based on budget deficit while the net public debt is not based on budget deficits. C) gross public debt includes government interagency borrowing while the net public debt does not. D) the gross public debt is expressed as a percentage of GDP while the net public debt is not.
According to the Case in Point on economic growth, which pattern describes the historical record on growth?
A) growth has been strong throughout history B) growth was robust before the Industrial Revolution C) growth was very strong between 1870 and 1970 D) none of the above
As a currency depreciates:
A) exports increase and imports decrease.
B) exports decrease and imports increase.
C) exports increase and imports increase.
D) exports decrease and imports decrease.
If the demand curve for a firm's output is P=100-Q, the total revenue curve will be
A. TR=100-2Q. B. TR=100Q-Q2. C. TR=P*Q. D. TR=100Q-2Q2.