Current concern about Social Security is that
A. the fund might be depleted before long and might not be there for workers who retire later.
B. the fund is growing too rapidly and would trigger inflation.
C. the government is planning to phase out the program.
D. none of these
Answer: A
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A leftward shift of a supply curve represents a decrease in supply
a. True b. False
A budget philosophy using fiscal policy to achieve the economy's potential GDP, rather than balancing budgets either annually or over the business cycle, is termed: a. budget finance
b. functional finance. c. crowding out. d. crowding in. e. deficit finance.
A market is said to be concentrated when:
a. the degree of competition in the market increases. b. many firms supply to a small number of consumers. c. the firms producing identical goods are clustered in a particular location. d. a firm or a few firms are able to dictate the competitive conditions in a market. e. there is a huge immigration of workers from neighboring areas.
Under a fixed exchange-rate system, in order to maintain the exchange rate:
a. governments must adopt a laissez-faire economic policy. b. all trading partners must enjoy the same level of economic growth. c. currencies must be inconvertible. d. the imports of one country must equal the exports of its trading partner. e. governments must intervene in the foreign exchange market.