Improvements in a country's standard of living are brought about in the long run by
A) technological progress.
B) growth in the population.
C) constructing more machines and buildings.
D) immigration policy.
A
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Social Security is structured as a pay-as-you-go system, meaning that payments to current retirees are paid
A) from taxes collected from retired workers. B) as long as the government has funds available. C) from taxes collected from current workers. D) by the Federal Reserve from newly-printed money.
Which of the following is not a seriously proposed way to solve the problems of funding Social Security?
a. increase Social Security taxes b. reduce future benefits c. increase the number of years of earnings used to determine benefits d. create a Social Security national lottery e. change the law to allow the Social Security system to invest some of the trust funds in the private sector
If markets are perfectly competitive, then the production of goods
A) will use the least costly combination of resources. B) will occur at an average total cost value that is above the minimum. C) will require government intervention. D) will always lead to business failures.
The copyright holder for most college textbooks is the
A. publisher. B. bookstore. C. student. D. author.