When combined, the annual underfunded amounts of Social Security and Medicare will be about ________ of payrolls between 2035 and 2085.
A. 14%
B. 4.5%
C. 1%
D. 30%
Answer: B
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John's utility from an additional dollar increases more when he has $1,000 than when he has $10,000. From this, we can conclude that John
A) is risk averse. B) is risk loving. C) is risk neutral. D) has a negative marginal utility of wealth.
During 2001-2004, the Fed injected additional reserves into the banking system, which reduced the federal funds rate and other short-term interest rates. Other things constant, what is the most likely short-run impact of this policy?
a. an increase in the rate of unemployment b. a reduction in the growth of employment c. an increase in aggregate demand and real GDP d. a reduction in the long-run rate of inflation
If AD excess equals $40 billion and the MPC equals 0.75, then the desired fiscal restraint equals
A. $160 billion. B. $30 billion. C. $10 billion. D. $53.33 billion.
A microeconomist would study all of the following issues EXCEPT
A) the impact of a change in consumer income on the sales of corn. B) the impact of a snowstorm on the sales of snow shovels. C) the most efficient means for General Motors to produce an automobile. D) the effect of a change in income taxes on the nation's rate of unemployment.