Which of the following is likely to happen if the government lowers its expenditure?

If demand is relatively elastic and supply is relatively inelastic, then the incidence of a tax will fall mainly on consumers

a. True b. False Indicate whether the statement is true or false

Which of the following statements about Social Security is FALSE?

A) Social Security is an intergenerational transfer where the benefits paid are only roughly related to past earnings. B) Over 90 percent of all employed workers in the United States are covered by Social Security. C) Benefit payments under Social Security are based on the recipient's need. D) Benefit payments under Social Security redistribute income from young to old.