Why do consumers benefit from pay-as-you-go social security?
A) It keeps inflation in check as money is redistributed.
B) It is a better way than taxes to finance the government.
C) It forces people to save more than they would otherwise.
D) With sufficiently high population growth, many young contribute to the benefits of the old.
D
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When Starbucks accepts your $10 bill for two Grande Lattes and one Tall Caramel Macchiato, the $10 bill serves as a
A) medium of exchange. B) store of value. C) standard of value. D) commodity money.
How does inclusion of the current revenues and expenditures of the Social Security trust fund into the budget calculation affect the reported budget deficit of the federal government?
a. It increases the reported deficit. b. It reduces the reported deficit. c. It exerts no effect on the reported deficit. d. It increases the deficit during an economic boom but reduces it during a recession.