Which of the following best explains why the Social Security system will face financial difficulties in the future?
a. Too much Social Security revenue was invested in the private sector rather than in government bonds.
b. In the next two decades, the number of workers paying into the system will decline sharply relative to the number of retirees collecting benefits.
c. The federal government does not pay interest on the money it borrows from the Social Security system.
d. The funds in the Social Security trust fund were invested in high-risk ventures that failed to pay off.
B
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What do you believe is one of the chief criticisms of the Coase Theorem that render it useless in real-world situations
What will be an ideal response?
Microeconomic models are used to
A) make predictions. B) explain real-life phenomena. C) evaluate policy alternatives. D) All of the above.
When we believe the best result will come from the decision we have made, we are being:
A. gullible. B. short-sighted. C. rational. D. considerate.
If someone in the United States buys a surfboard produced in Australia, then that purchase is included in both the consumption component of U.S. GDP and the net exports component of U.S. GDP
a. True b. False Indicate whether the statement is true or false