Which of the following will cause the date that the Social Security trust fund runs out of money to be pushed further into the future?
A) a decrease in the rate of real GDP growth
B) an increase in the population growth rate
C) a decrease in the growth of the real wage
D) all of the above
B
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Real GDP is $13 trillion and aggregate planned expenditure is $14 trillion. As a result, unplanned inventory change is ________ and real GDP ________
A) negative; decreases B) positive; increases C) negative; increases D) positive; decreases E) negative; does not change
Which of the following is true any place on the production possibilities curve?
a. Producing more of one item creates less of the other. b. Both items must be produced in equal volumes. c. Only one item may be produced at a time. d. No items can be produced if there is inefficiency.
In cost-effectiveness analysis, constant cost studies:
a. are rarely used b. attempt to specify the output which may be achieved from a number of alternative programs, assuming all are funded at the same level c. are useless because they fail to adequately evaluate program benefits d. try to find the least expensive way of achieving a certain objective e. none of the above
One common assumption in game theory is that firms
a. try to avoid the worst outcome b. try to achieve the best outcome c. minimize losses d. always cooperate e. always compete