Social Security payments depend on an individual's wages, but the benefits formula is progressive.
Answer the following statement true (T) or false (F)
True
An individual's Social Security check does depend on his or her wages; higher-wage employees will earn more than lower-income employees. However, the formula for calculating payments is progressive in that the ratio of benefits to prior wages declines as wages increase.
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What is an individual transferable quota (ITQ)?
What will be an ideal response?
Banks have attempted to maintain adequate profit levels by
A) making fewer riskier loans, such as commercial real estate loans. B) pursuing new off-balance-sheet activities. C) increasing reserve deposits at the Fed. D) decreasing capital accounts.
Which of the following is a market transaction?
A. Weather destroys a farmer's crops, leaving the farmer unable to buy groceries. B. A radio station changes its programming from classical to rock. C. A stock increases in value over the 30 years that it is owned. D. A college student purchases a laptop computer.
Proponents of the estate and gift tax argue that the tax is necessary because:
A. it generates a large portion of total federal revenue. B. it prevents "unfair" accumulation of wealth across generations. C. it is only applied to items that have not previously been taxed. D. it is the primary source of funding for Medicare and Medicaid.