As the baby boomers begin moving into the retirement phase of life during the years following 2010, spending on Social Security and Medicare will
A) rise and this will make it easier for the federal government to balance its budget.
B) fall and this will make it easier for the federal government to balance its budget.
C) fall and this will make it more difficult for the federal government to balance its budget.
D) rise and this will make it more difficult for the federal government to balance its budget.
D) rise and this will make it more difficult for the federal government to balance its budget.
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If 15 workers produce 100 license plates, 16 workers produce 120 license plates, and 17 workers produce 130 license plates, then
a. diminishing marginal returns have not set in because the marginal product is positive b. the marginal product of the seventeenth worker is 130 c. diminishing marginal returns must begin with the sixteenth worker d. the marginal product of the sixteenth worker is greater than the marginal product of the seventeenth worker e. the marginal product of the fifteenth worker must be 20
A federal system consists of one level of government to provide public goods and services.
A. True B. False C. Uncertain