Which of the following is NOT among the proposals for reducing the Social Security financing gap?
A. Mandating larger payments from company pension plans
B. Raising Social Security payroll taxes
C. Privatizing the system
D. Reducing benefits
Answer: A
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A rise in the price level brings a ________ in the buying power of money that ________ consumption expenditures and causes the quantity of real GDP demanded to ________
A) fall; decreases; decrease B) fall; increases; increase C) rise; increases; increase D) rise; decreases; decrease E) fall; decreases; increase
The difference between the long-run and short-run frameworks is that the long-run framework focuses on demand while the short-run framework focuses on supply.
Answer the following statement true (T) or false (F)
Refer to the diagram. The direct economic impact of the destruction and loss of lives caused by the terrorist attacks of September 11, 2001, is illustrated by the:
A. shift of the production possibilities curve from CD to AB.
B. shift of the production possibilities curve from AB to CD.
C. move from x to y on production possibilities curve AB.
D. move from y to x on production possibilities curve AB.
Suppose the observed annual quantity of steel exchanged in the European market is 30 million metric tons, and the observed market price is 90 euros per ton. If the linear demand function for steel takes the form Q = a - 0.9P, what is an appropriate value for the intercept coefficient a?
a = -111 a = 51 a = -51 a = 111