The payments made to the beneficiaries of the Social Security program are financed by
a. insurance premiums previously paid into the system by the beneficiaries.
b. current receipts derived from the Social Security payroll tax.
c. income derived from funds that were previously invested in stocks and bonds.
d. governmental savings accounts based on the amount of funds the recipient previously paid into the system.
B
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A partnership is limited to how many owners?
A) 2 B) 5 C) less than 10 D) There is no limit to the number of owners.
Figure 10-8
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For the perfectly competitive firm in Figure 10-8, what is the long-run price and quantity?
A. P = 4, Q = 150 B. P = 9, Q = 200 C. P = 10, Q = 200 D. P = 5, Q = 150
The long-run aggregate supply of an economy at the potential level of real GDP is graphically represented by:
a. a horizontal line. b. an upward-sloping curve. c. a downward-sloping curve. d. a vertical line. e. a backward bending curve.
The figure below shows an IS-LM-FE model for an economy with fixed exchange rates. Initially the economy is at Point A, a triple intersection. Here, the FE curve is steeper than the LM curve.
At Point B, the economy is experiencing
A. an overall balance of payments that is in equilibrium. B. a surplus in the overall balance of payments. C. an expanding money supply. D. a deficit in the overall balance of payments.