One way to restructure Social Security to meet its future obligations would be to _____
a. lower the retirement age
b. reduce Social Security benefits
c. increase benefits only on the poor
d. eliminating pay-as-you-go
d
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Consider the two graphs above. Suppose that final goods are assembled only when ordered and to satisfy the precise preferences of each consumer. This would ________ the desired level of inventories, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
The civilian labor force excludes anyone not actively seeking a job
a. True b. False Indicate whether the statement is true or false
Which of the following best describes an adjustable rate mortgage (ARM)?
a. With an ARM, the borrower is protected against the risk that higher inflation will reduce the real loan payments, and so the risk premium part of the interest rate can be correspondingly lower. b. With an ARM, the borrower is protected against the risk that higher inflation will reduce the real loan payments, and so the risk premium part of the interest rate can be correspondingly higher. c. With an ARM, the lender is protected against the risk that higher inflation will reduce the real loan payments, and so the risk premium part of the interest rate can be correspondingly lower. d. With an ARM, the lender is protected against the risk that higher inflation will reduce the real loan payments, and so the risk premium part of the interest rate can be correspondingly higher.