The purpose of social insurance is to
a. encourage charitable donations
b. provide money to the poor
c. provide in-kind aid to the poor
d. redistribute income for the old to the young
e. supplement the incomes of those who have worked but are now retired, temporarily unemployed, or disabled
E
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In 2003, federal government expenditures as a percentage of GDP were around _____
a. 10 percent b. 20 percent c. 30 percent d. 40 percent
An index number is important only in a relative sense -- in comparison to an index number from another period
a. True b. False
Retained earnings may be a better source of funds than issuing stocks or bonds because management does not have to account for their effectiveness this way
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a participant in the financial sector?
A) commercial banks B) investment banks C) hedge funds D) brokerage firms E) all of the above