A factor that would reduce the ability of the Social Security system to maintain current benefit levels with constant tax rates is
A. rapid real wage growth.
B. reduced population growth.
C. adoption of a “pay as you go” system.
D. a slowdown in inflation.
Answer: B
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Since 1960, countries in Africa have grown at rates ________ those of the main industrial countries
A) far below B) far above C) about the same D) slightly below E) slightly above
What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. Celler-Kefauver Act. b. Sherman Antitrust Act. c. Clayton Act. d. Robinson-Patman Act.
If the price of pizza increases, the quantity of pizza demanded will fall because some consumers will switch to tacos, hamburgers, or submarine sanwiches. This is called the:
a. income effect b. the alternative effect c. the substitution effect d. the normal good effect
The natural monopoly in Figure 8.14 wants to produce:
A. Q1. B. Q2. C. Q3. D. Q4.