Present value analysis suggests that the real rate of return on Social Security is
A. around 10% for workers of all income levels.
B. roughly 3% for high-income earners and negative for low-income earners.
C. more than 10% for high-income earners.
D. roughly 3% for low-income earners and negative for high-income earners.
Answer: D
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Predictions that natural resources such as oil will be essentially used up in the next few decades
a. have been frequently made for the past century but have always proven to be false. b. have usually been based on the quantity of proved reserves. c. have ignored the role of price in governing the quantities demanded and supplied. d. All of the above are correct.
The aggregate supply and aggregate demand model is used to explain the:
A. overall health of the economy. B. way that unemployment may affect output, but not how price level does. C. overall effect of large markets within the economy. D. interaction of all sellers and all buyers within a particular market.
Which of the following equations represents equilibrium in the goods market?
A. AE = C + I + G B. Y = AD + AS C. Y = S + I D. AE = I(r)
The largest share of federal government tax receipts is derived from
A) corporate income taxes. B) excise taxes. C) social insurance contributions. D) individual income taxes.