A pay-as-you-go system means
A. you pay for your dinner as you go to the table to eat.
B. current working citizens pay for current retired citizens.
C. there is no need for taxes since current workers pay for current retirees.
D. retirees are paid from accounts that have accumulated with interest over their working
lives.
B. current working citizens pay for current retired citizens.
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Refer to Table 20-19. Looking at the table above, what is the rate of growth of the average price level from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4% E) 5%
Can the U.S. dollar and the euro both appreciate relative to each other? a. Yes, both countries can gain in this manner
b. Yes, provided the central banks agree to permit it. c. No, if one currency appreciates relative to another, the other depreciates. d. No, the citizens of the countries would not agree to it.
Which of the following can act as a barrier to entry for new firms in an oligopoly market?
a. Increased capital usage b. Diseconomies of scale c. Control over an essential resource d. Increased investment in advertising
A depression is a:
A. recession that lasts more than four quarters. B. severe and extended period of recession. C. recession that lasts more than eight quarters. D. recession that lasts more than three quarters.