Under the Social Security program currently in existence
A) benefits are based on need.
B) benefits are determined by whether or not one contributed to the system.
C) benefits are provided to everyone who contributed to the system EXCEPT those under private retirement programs that provide an annual income in excess of $13,500.
D) benefits are guaranteed to be no lower for future retirees than for current retirees.
Answer: B
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In Figure 45.2, at the perfectly competitive equilibrium, the number of workers hired will be Figure 45.2
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