When combined, between now and 2035, the annual underfunded amounts of Social Security and Medicare will
A. fall from 4.5% to 1%.
B. grow from 1% to 4.5%.
C. remain at about 14%.
D. fall from 30% to 14%.
Answer: B
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Refer to Figure 7-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
A) > $24 B) $24 C) $30 D) $54
According to the simple quantity theory of money in the AD-AS framework, when the money supply increases, the result is __________ in Real GDP and __________ in the price level
A) no change; no change B) a rise; no change C) no change; a rise D) a rise; a fall E) a fall; a rise
Suppose that Mexico and Canada both peg their currencies to the U.S. dollar. The relationship between the Mexican peso and the Canadian dollar is best described as a(n):
A) indirect peg. B) fixed exchange rate system. C) currency union. D) free trade area.
When the price level falls, consumers may feel wealthier and the consumption function will shift upward.
Answer the following statement true (T) or false (F)