Until 1950, the Social Security program spent ______ of its assets every year
a. less than 10 percent
b. between 10 and 20 percent
c. between 20 and 30 percent
d. over 30 percent
a
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Negative externalities impose most of their costs:
a. directly on consumers of polluting processes. b. whenever individual health is harmed in the production process. c. only in large cities. d. on individuals other than consumers of the polluting product.
Incentives are
A) potential rewards available if a particular activity is undertaken. B) ineffective as a device to get people to behave in a certain fashion. C) inappropriate ways to obtain a certain kind of behavior. D) useless when people behave rationally.
Suppose that in some country the price of silver increased from $30 per ounce to $31 per ounce during a time when the overall price level increased by 5 percent. During this period, the real price of silver
a. increased. b. decreased. c. stayed the same. d. might have increased, decreased or stayed the same; more information is needed to be sure.
If real GDP per person in a country equals $20,000 and 40 percent of the population is employed, then average labor productivity equals:
A. $8,000. B. $40,000. C. $20,000. D. $50,000.