Economics: The Basics 1st Edition by Mike Mandel

Exercise 2

Fill in the blank in each statement.
a) Only _____ percent of families save regularly.
b) ____ are a type of employment retirement plan that allows participants to save part of their pretax income, with the employer matching all or part of the contribution.
c) In 2007 _____ percent of private sector workers participated in a defined contribution plan.
d) The Social Security payroll tax paid by employees is _____ percent of wages and salaries up to a maximum.
e) The old-age dependency ratio will go from 0.2 to _____ over the next 70 years.
f) In 2037 the size of the gap between Social Security income and expenditures is expected to be _____ percent of GDP.
g) In 2006 health care spending accounted for _____ percent of GDP.
h) __ occurs because the poor cannot afford to pay for health insurance.
i) Health care funding comes from individual spending, _____, and government programs.
j) ____ percent of private sector workers in low-wage occupations participate in employer-provided health care plans.
k) The government program _____ covers the health care costs of older citizens.