Question 1

In the Radical analysis, an example of social consumption would be

Accepted Answer

A)  building the interstate highway system. 
B)  Social Security. 
C)  welfare payments. 
D)  subsidies paid to firms. 
A)  building the interstate highway system. 
B)  Social Security. 
C)  welfare payments. 
D)  subsidies paid to firms. C

Question 2

Conservatives, Liberals, and Radicals agree that Social Security problems began with the ending of the unified budget and the formation of a separate trust fund.

Accepted Answer

A) True 
 B)False  False

Question 3

The Social Security system is currently financed by

Accepted Answer

A)  pay-as-you-go. 
B)  post-funding. 
C)  off-balance sheet transactions. 
D)  pre-funding. 
A)  pay-as-you-go. 
B)  post-funding. 
C)  off-balance sheet transactions. 
D)  pre-funding. A

Question 4

Which trust fund is identified by Liberals as being significantly under-funded?

Accepted Answer

A)  Old Age Security Trust Fund 
B)  State Insurance Trust Fund 
C)  Supplemental Medical Insurance Trust Fund 
D)  Disability Insurance Trust Fund 
A)  Old Age Security Trust Fund 
B)  State Insurance Trust Fund 
C)  Supplemental Medical Insurance Trust Fund 
D)  Disability Insurance Trust Fund

Question 5

From a radical perspective, Social Security is a good example of the legitimation activities required of the capitalist state.

Accepted Answer

A) True 
 B)False

Question 6

Compared to 1950, the ratio of paid workers to non-workers in 2020 will be

Accepted Answer

A)  higher. 
B)  lower. 
C)  about the same. 
D)  impossible to know because all demographic forecasts are wrong. 
A)  higher. 
B)  lower. 
C)  about the same. 
D)  impossible to know because all demographic forecasts are wrong.

Question 7

Conservatives criticize Social Security on the grounds that

Accepted Answer

A)  the people who receive benefits do not need them. 
B)  the payments do not allow beneficiaries to maintain their present standard of living. 
C)  the payments are not determined by previous contribution or need. 
D)  people who work beyond the government-set mandatory retirement age still receive benefits. 
A)  the people who receive benefits do not need them. 
B)  the payments do not allow beneficiaries to maintain their present standard of living. 
C)  the payments are not determined by previous contribution or need. 
D)  people who work beyond the government-set mandatory retirement age still receive benefits.

Question 8

Social Security was originally intended to allow workers to retire at their full salary.

Accepted Answer

A) True 
 B)False

Question 9

The Old Age Security and Disability Trust Funds are currently adequately funded.

Accepted Answer

A) True 
 B)False

Question 10

Liberals have proposed setting up the Social Security system as an independent government agency and thus shield it from political influence and conflict.

Accepted Answer

A) True 
 B)False

Question 11

Conservatives argue that although employers must match their employees contributions, it still is advantageous to hire more workers because the overall corporate income tax is greatly reduced.

Accepted Answer

A) True 
 B)False

Question 12

The revamping of the Social Security programs in the mid-1980s required

Accepted Answer

A)  raising Social Security taxes. 
B)  cutting Social Security benefits. 
C)  extending the retirement age. 
D)  All of the above. 
E)  None of the above. 
A)  raising Social Security taxes. 
B)  cutting Social Security benefits. 
C)  extending the retirement age. 
D)  All of the above. 
E)  None of the above.

Question 13

Social Security assets are invested in

Accepted Answer

A)  U.S. government bonds only. 
B)  common stocks and U.S. government bonds. 
C)  common stocks only. 
D)  All of the above. 
E)  None of the above. 
A)  U.S. government bonds only. 
B)  common stocks and U.S. government bonds. 
C)  common stocks only. 
D)  All of the above. 
E)  None of the above.

Question 14

Radicals assert that the attack on the Social Security system

Accepted Answer

A)  serves to discipline workers to the needs of capital. 
B)  is a conspiracy of right-wing fanatics. 
C)  will quickly bring about social revolution. 
D)  will raise wages by reducing their tax burden. 
E)  All of the above. 
A)  serves to discipline workers to the needs of capital. 
B)  is a conspiracy of right-wing fanatics. 
C)  will quickly bring about social revolution. 
D)  will raise wages by reducing their tax burden. 
E)  All of the above.

Question 15

Conservatives claim that privatizing Social Security will increase the rate of capital formation in the United States.

Accepted Answer

A) True 
 B)False

Question 16

Conservatives argue that

Accepted Answer

A)  Social Security should be involuntary. 
B)  rather than cutting benefits, Social Security taxes should be increased. 
C)  the Social Security system is self-funding. 
D)  Social Security reduces savings and national income. 
A)  Social Security should be involuntary. 
B)  rather than cutting benefits, Social Security taxes should be increased. 
C)  the Social Security system is self-funding. 
D)  Social Security reduces savings and national income.

Question 17

Radicals believe that the Social Security system

Accepted Answer

A)  is insignificant as a social welfare system because benefits do not equal contributions. 
B)  is an important social welfare system with many flaws. 
C)  is progressive in nature. 
D)  transcends class bias in that it contributes and benefits from it. 
E)  All of the above. 
A)  is insignificant as a social welfare system because benefits do not equal contributions. 
B)  is an important social welfare system with many flaws. 
C)  is progressive in nature. 
D)  transcends class bias in that it contributes and benefits from it. 
E)  All of the above.

Question 18

Liberals defend Social Security on the grounds of all of the following except

Accepted Answer

A)  private pension funds do not provide as broad range of benefits. 
B)  even in the best of times workers tend not to think of their future. 
C)  economic history has shown that even people who do save can be easily wiped out financially. 
D)  Americans rely on the system to handle economic problems of retirement. 
A)  private pension funds do not provide as broad range of benefits. 
B)  even in the best of times workers tend not to think of their future. 
C)  economic history has shown that even people who do save can be easily wiped out financially. 
D)  Americans rely on the system to handle economic problems of retirement.

Question 19

Social Security assets are largely invested in common stocks.

Accepted Answer

A) True 
 B)False

Question 20

According to Radical taxonomy, an example of "social capital" outlays by government is

Accepted Answer

A)  the Social Security system. 
B)  building the interstate highway system. 
C)  the welfare system 
D)  the education system. 
A)  the Social Security system. 
B)  building the interstate highway system. 
C)  the welfare system 
D)  the education system.

In the Radical analysis, an example of social consumption would be

Conservatives, Liberals, and Radicals agree that Social Security problems began with the ending of the unified budget and the formation of a separate trust fund.

The Social Security system is currently financed by

Which trust fund is identified by Liberals as being significantly under-funded?

From a radical perspective, Social Security is a good example of the legitimation activities required of the capitalist state.

Compared to 1950, the ratio of paid workers to non-workers in 2020 will be

Conservatives criticize Social Security on the grounds that

Social Security was originally intended to allow workers to retire at their full salary.

The Old Age Security and Disability Trust Funds are currently adequately funded.

Liberals have proposed setting up the Social Security system as an independent government agency and thus shield it from political influence and conflict.

Conservatives argue that although employers must match their employees contributions, it still is advantageous to hire more workers because the overall corporate income tax is greatly reduced.

The revamping of the Social Security programs in the mid-1980s required

Social Security assets are invested in

Radicals assert that the attack on the Social Security system

Conservatives claim that privatizing Social Security will increase the rate of capital formation in the United States.

Conservatives argue that

Radicals believe that the Social Security system

Liberals defend Social Security on the grounds of all of the following except

Social Security assets are largely invested in common stocks.

According to Radical taxonomy, an example of "social capital" outlays by government is

Responding to Market Outcomes: Competitionor Protection for American Agriculture

Consumer Welfare: Is It Necessary to Protect the Consumer

Dealing With Externalities: How Can We Save the Environment

Imperfect Competition: Is Big Business a Threat or a Boon

Economic Regulation Which Path: Deregulation or Reregulation

Income Distribution: Does America Have an Income Inequality Problem

Financing Government: What Is a Fair System of Taxation

Macroeconomic Instability: Are We Depression-Proof

Economic Growth and Stability: Can We Maintain High and Steady Rates of Economic Growth

Balancing the Federal Budget: Should We Be Worried About the Rising Federal Deficit

Unemployment: Is Joblessness an Overrated Problem

Inflation: Can Price Pressures Be Kept Under Control

International Economics: Where Does America Fit Into the New World Order

Ideological Differences and Justifications for Planning in Economics

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Exam 13: The New Population Problem: Can We Save Our Social Security System

In the Radical analysis, an example of social consumption would be

Conservatives, Liberals, and Radicals agree that Social Security problems began with the ending of the unified budget and the formation of a separate trust fund.

The Social Security system is currently financed by

Which trust fund is identified by Liberals as being significantly under-funded?

From a radical perspective, Social Security is a good example of the legitimation activities required of the capitalist state.

Compared to 1950, the ratio of paid workers to non-workers in 2020 will be

Conservatives criticize Social Security on the grounds that

Social Security was originally intended to allow workers to retire at their full salary.

The Old Age Security and Disability Trust Funds are currently adequately funded.

Liberals have proposed setting up the Social Security system as an independent government agency and thus shield it from political influence and conflict.

Conservatives argue that although employers must match their employees contributions, it still is advantageous to hire more workers because the overall corporate income tax is greatly reduced.

The revamping of the Social Security programs in the mid-1980s required

Social Security assets are invested in

Radicals assert that the attack on the Social Security system

Conservatives claim that privatizing Social Security will increase the rate of capital formation in the United States.

Conservatives argue that

Radicals believe that the Social Security system

Liberals defend Social Security on the grounds of all of the following except

Social Security assets are largely invested in common stocks.

According to Radical taxonomy, an example of "social capital" outlays by government is

Responding to Market Outcomes: Competitionor Protection for American Agriculture

Consumer Welfare: Is It Necessary to Protect the Consumer

Dealing With Externalities: How Can We Save the Environment

Imperfect Competition: Is Big Business a Threat or a Boon

Economic Regulation Which Path: Deregulation or Reregulation

Income Distribution: Does America Have an Income Inequality Problem

Financing Government: What Is a Fair System of Taxation

Macroeconomic Instability: Are We Depression-Proof

Economic Growth and Stability: Can We Maintain High and Steady Rates of Economic Growth

Balancing the Federal Budget: Should We Be Worried About the Rising Federal Deficit

Unemployment: Is Joblessness an Overrated Problem

Inflation: Can Price Pressures Be Kept Under Control

International Economics: Where Does America Fit Into the New World Order

Ideological Differences and Justifications for Planning in Economics

Filters