In the ________, the tax receipts from today's workers are used to pay benefits to retired and disabled workers and their dependents today.

A. public assistance (welfare) program
B. Social Security system
C. Medicare and Medicaid programs
D. unemployment insurance program


Answer: B

Economics

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Explain how does an increase in real interest rates affect the components of AE

What will be an ideal response?

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In the long run, a perfect competitor

A) earns positive profits but will not make losses. B) earns positive economic profits. C) earns zero economic profits. D) produces at its shutdown point.

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Refer to Figure 12.2. How many Nash equilibriums are there?


A. 0

B. 1

C. 2

D. 3

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If the marginal propensity to consume is 0.8, the marginal propensity to save is:

a. 0.8 b. 0.4 c. 0.2 d. 0.3

Economics