The Social Security program is primarily a
a. compulsory retirement income program set up on sound insurance principles.
b. forced-savings program where workers save during their working years and receive the principal and interest on these savings at retirement.
c. program designed to tax current workers in order to provide benefits for current retirees.
d. voluntary savings program run by the government.
C
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Using the data in the table above, the growth rate of real GDP for 2010 is equal to
A) 4.76 percent. B) 10.0 percent. C) 9.09 percent. D) 5.00 percent. E) 7.00 percent.
A monopolist with constant average and marginal cost equal to 8 (AC = MC = 8) faces demand Q = 100 - P, implying that its marginal revenue is MR = 100 - 2Q. Its profit maximizing quantity is
a. 8 b. 46 c. 50 d. 92
The CARD Act, which tells credit card holders how long it will take to pay off their debt if they only make minimum payments, and how much they need to pay in order to pay off the debt in three years, is an example of:
A. disclosing information in more usable ways. B. how the presentation of information can affect people's choices. C. choice architecture that nudges people toward better decisions. D. All of these statements are true.
As price rises, quantity demanded
A. rises. B. falls. C. remains the same.