Social Security payments depend on an individual's wages, but the benefits formula is progressive.
Answer the following statement true (T) or false (F)
True
An individual's Social Security check does depend on his or her wages; higher-wage employees will earn more than lower-income employees. However, the formula for calculating payments is progressive in that the ratio of benefits to prior wages declines as wages increase.
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Which of the following factors is most likely to cause the aggregate demand curve to shift rightward?
a. An increase in savings b. An increase in household wealth c. An increase in tax rates d. A decrease in government spending
Which of the following is true of a monopoly? a. The price charged by a monopoly is lower than that in other markets. b. New firms can enter a monopoly
c. A monopolist is a price setter. d. Substitutes are available for a monopolist's products.