The dire predictions about the underfunded nature of Social Security, Medicare, and state and local pensions could be wrong because
A. interest rates may turn out to be higher in the future.
B. unemployment rates may turn out to be higher than they are currently predicted to be.
C. taxable incomes may turn out to be lower than they are currently predicted to be.
D. benefits could be curtailed from what they are currently predicted to be.
Answer: D
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Assuming initially that the required reserve ratio = 10%, the currency-deposit ratio = 40%, and the excess reserve ratio = 0, an increase in the currency-deposit ratio to 50% causes the M1 money multiplier to ________, everything else held constant
A) increase from 2.5 to 2.8 B) decrease from 2.8 to 2.5 C) increase from 2.33 to 2.8 D) decrease from 2.8 to 2.33
The aggregate supply and aggregate demand model is used to explain:
A. how individual markets affect other markets. B. how entire markets operate, not just each individual seller within a market. C. the market price determined by all buyers and all sellers interacting in a market. D. how output, prices, and employment are tied together in a single economic equilibrium
Market failure happens when a market does not generate the most efficient outcome.
Answer the following statement true (T) or false (F)
A shift away from expenditures on domestic goods and a shift toward expenditures on foreign goods when the domestic price level increases is known as
A. the open economy effect. B. demand side inflation. C. the real-balance effect. D. the interest rate effect.