Which of the following statements is an accurate statement about the Social Security (OASDI) program?
A) The program is financed by voluntary contributions.
B) Only 50 percent of workers are covered by OASDI.
C) Benefits are based on financial need.
D) The program transfers income from those who work to those who do not work.
D
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Private disposable income equals
A) GNP - taxes + transfers + interest. B) NNP - taxes + transfers + interest. C) national income - taxes + transfers + interest. D) national income - taxes - transfers + interest.
If the Federal Reserve increases the money supply, ceteris paribus, the:
a. rate of interest decreases. b. rate of interest increases. c. rate of interest is unaffected. d. Fed sells bonds.
What happens to supply when input costs go up?
(A) It decreases because consumers find a substitute product. (B) It decreases because the good becomes more expensive to produce. (C) It increases because the good becomes more expensive to produce. (D) It increases because the good becomes cheaper to produce.
Policymaking that is carried out in response to a rule is
A. determined policymaking. B. restrictive policymaking. C. passive policymaking. D. active policymaking.