Exam 16: Applying the Basics: Special Topics in Economics

Persons who die before age 65 or soon thereafter, receive little or nothing from their Social Security payroll tax payments. Which of the following groups is harmed the most by this attribute of the Social Security retirement system?

When employment discrimination results from the personal prejudices of employers, economic theory suggests that

To the extent that current profits are directly related to future profits, a high price/earnings ratio would indicate that stocks are

Suppose that monetary policy becomes more expansionary, and as a result, the future rate of inflation is higher. Will this be good for the stock market?

When the Social Security system enters its deficit years and the bonds held in the trust funds are drawn down,

Forests in the United States have, in recent decades,

A 2.9 percent payroll tax (1.45 percent levied on both the employee and the employer) imposed on current workers is used to finance the

School voucher programs

From the viewpoint of the entire economy, the cost of government is

During the first 125 years of the United States,

Since 1970, real spending per student in American public elementary schools has

If the U.S. economy grew rapidly in the future, would this eliminate the long run deficit of Social Security?

Government expenditures as a share of the U.S. economy are

Which of the following is an important lesson that can be drawn from the experience of the Great Depression?

How are the economic forces that govern renewable resources different than those that govern non-renewable resources?

Which of the following most clearly distinguishes government from a private business?

Does it make any difference whether health-care expenditures are paid for by the consumer or by a third party (the government or an insurance company, for example)?

In recent years, what percentage of American families have derived income transfers from at least one government transfer program?

Which of the following is true?

The Great Depression demonstrates that the appropriate fiscal and monetary policy to combat a recession would be