The retirement poverty problem is that
A. retirement makes people feel poorer because they are not engaged in productive work.
B. without Social Security payments, almost all seniors would be in poverty.
C. many workers are too poor to save for retirement.
D. many retired people live in poverty.
Answer: C
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What will be an ideal response?
"If the wage rate paid to one form of labor is twice the cost of another form of labor, the first type of labor must be twice as productive." Comment
What will be an ideal response?
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Refer to the table. When the legal reserve ratio is 30 percent, the monetary multiplier is:
A. 5.
B. 4.
C. 3.33.
D. 2.5.