Marion owns substantial financial assets. She was surprised that she qualified for Social Security retirement benefits when she retired because of her high investment income
What characteristic of social insurance programs is Marion overlooking with respect to her Social Security retirement benefits?
A) Social insurance programs are financially self-supporting.
B) Social insurance program benefits are loosely related to earnings.
C) Social insurance benefits are not means tested.
D) Full funding of social insurance programs is unnecessary.
Answer: C
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Which of the following best describes an economic consultative association?
A. It is a group of states that have reduced or eliminated trade barriers among themselves but maintain their individual tariffs in dealing with other states. B. It is a group of states that exchanges information, coordinates economic policy, and promotes trade cooperation. C. It is a business firm operating branches, subsidiaries, or joint ventures in two or more states. D. It is a group of states that have reduced or eliminated trade barriers among themselves and have established a common external tariff.
According to the equity theory, what would you predict would be the result of overpaying a piece-rate worker?
A) There will be no effect. B) Quantity will increase. C) Quality will decrease. D) Quality will increase.