Social Security is slightly ______ in that it attempts to ensure those at the bottom of the earnings ladder have something approximating an adequate retirement income by replacing a greater proportion of their earnings.

When government expenditures exceed revenues, we have

A. cost-push inflation B. monetary policy C. recession D. deficit spending

Texas may accrue state debt when it

A) relies on federal funding. B) instituted a state-wide lottery system. C) passes a supplemental budget. D) issues general obligation or revenue bonds.