Social Security payments:
A. cause concern for retirees, due to the increase in life expectancies.
B. continue to cause the elderly to lose income over time, since payments are not adjusted for inflation.
C. hold their real value because they are adjusted for inflation.
D. are the biggest drain on the retirees' budget each year.
Answer: C
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Income taxes paid by corporations are
A) the major source of revenue for the federal government. B) the major source of revenue for state governments. C) the major source of revenue for local governments. D) about 9 percent of the federal government's revenue. E) the major source of expenditure by the federal government.
The efficient quantity of output of a product with external costs of production is
A) where the demand curve and the producer's supply curve intersect. B) where the marginal social cost curve and marginal social benefit curve intersect. C) as low as possible. D) zero.