The United States Social Security system
A. pays benefits in direct accordance to what each individual has paid into the system.
B. has paid the current generation of recipients less in benefits than it paid in payroll taxes.
C. has paid the current generation of recipients more than it paid in payroll taxes.
D. paid the earlier generations more and the current generation less than each paid in payroll taxes.
Answer: C
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A. high; low; increase B. low; high; increase C. low; high; decrease D. high; low; decrease
Just like other scientific models, economic models simplify reality using
Ceteris paribus, the greater the increase in the money supply, the __________ the inflation rate, the __________ the expected inflation rate, and the __________ the interest rate
A) higher; higher; higher B) lower; lower; lower C) higher; lower; higher D) lower; higher; lower E) higher; lower; lower
If cable TV service and satellite TV service are substitutes,
What will be an ideal response?