A fully-funded system
A. never needs to run a surplus.
B. has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations.
C. has current retirees being paid out of the taxes of current workers.
D. has a sufficient amount of money on hand currently to pay out all future obligations.
Answer: D
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Which of the following properly ranks the size of tax revenues received by the federal government from highest to lowest?
A. Corporate taxes, Social Security payroll taxes, income taxes, and excise taxes. B. Social Security payroll taxes, excise taxes, corporate taxes, and income taxes. C. Income taxes, Social Security payroll taxes, corporate taxes, and excise taxes. D. Excise taxes, Social Security payroll taxes, income taxes, and corporate taxes.
Based on the 'early incarnation' of the Phillips curve, explain what effect an increase in the unemployment rate will have on the inflation rate
What will be an ideal response?
Refer to the above table. MC is the lowest
A. between 3 and 4 units of output. B. at 0 units of output. C. between 0 and 1 units of output. D. between 1 and 2 units of output.
Inflation refers to a(n) ________ in the overall ________.
A. increase; unemployment rate B. decrease; price level C. decrease; unemployment rate D. increase; price level