The Social Security system in the United States today is
A. actuarially sound.
B. composed of a private pension fund into which workers have paid and who will withdraw their invested funds upon retirement.
C. currently in no danger of running out of money in the long run.
D. no longer a “pay as you go” system.
Answer: D
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Short run market supply curves are formed by adding up individual firm supply curves in the industry.
Answer the following statement true (T) or false (F)
An option allowing the holder to buy an asset in the future is a
A) put option. B) call option. C) swap. D) forward contract.
Negative supply shocks can have a tendency to ________ costs of production and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Cost-push inflation is caused by supply shocks like higher oil prices and poor weather conditions
a. True b. False Indicate whether the statement is true or false