Under the Social Security program currently in existence
A) benefits are based on need.
B) benefits are determined by whether or not one contributed to the system.
C) benefits are provided to everyone who contributed to the system EXCEPT those under private retirement programs that provide an annual income in excess of $13,500.
D) benefits are guaranteed to be no lower for future retirees than for current retirees.
B
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Of the following, which is most likely to be a normal good?
a. hamburger b. automobiles c. used clothing d. low-rent housing units e. macaroni and cheese
A bank has $200 million in assets and $150 million in liabilities. The banks net worth is _____________ million and its leverage ratio is __________________
A) $350; 0.56 to 1 B) $175; 1.14 to 1 C) $50; 4 to 1 D) $25; 8 to 1
The capital account of the balance of payments consists of
A. the long-term transactions that we conduct with foreigners. B. all the goods and services produced during the current year, which we buy from or sell to foreigners. C. the interest, dividends, and profits that the U.S. collected from foreign investments less what U.S. firms paid foreign investors. D. None of these statements are true.
________ refers to the fact that both human and financial capital leave developing countries in search of a higher rate of return.
A. Outsourcing B. Divestiture C. Urbanization D. Capital flight