A) increase benefits for retirees who have substantial income from other sources
B) increase the minimum retirement age
C) revise the inflation adjustment formula for benefits so that recipients would receive more of a raise every year
D) lower the payroll tax contribution -Consider This: This is one of the Social Security reform suggestions.
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A) A means-tested program extends benefits based on age categories,while a social insurance program provides benefits based on immediate need.
B) A means-tested program only extends benefits to the elderly,while a social insurance program extends benefits to everybody.-Consider This: Means-tested program like food stamps provide benefits to those with specific needs,while social security or entitlement programs like Social Security provide benefits to qualified individuals regardless of needs.
C) A social insurance program extends benefits only to the working poor,while a means-tested program extends benefits to everyone,regardless of social class.
D) A social insurance program provides benefits to those who have paid into the program,while a means-tested program provides benefits based on demonstrated need.
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A) The vast majority of wealthy people in the U.S.live in the West.
B) 90% of people in the U.S.hold a proportional amount of the nation's wealth.
C) A very small percentage of people in the U.S.hold the majority of its wealth.
D) There is no difference between the top 1% of Americans and the following 9%.-Consider This: If 1% and 9% hold the same amount of "land," it is a clear indication that each person in the 1% holds a lot more than those in the 9%.
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A) Older people cannot maintain the pace of technological change in the workforce.-Consider This: The workplace is changing as technology becomes more prevalent,but this does not necessarily lead to unemployment of job loss.
B) The number of jobs has to increase dramatically for all new entrants to get a job.
C) Young people are less motivated to get a job than older people.
D) Middle aged people are more likely to get laid off than other groups.
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A) progressive -Consider This: A tax by which the government takes a greater share of the income of the rich than the poor.
B) regressive
C) proportional
D) severance
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A) Americans are generally uncompassionate.
B) Americans tend to think that U.S.welfare programs are not generous enough.-Consider This: Many Americans think that U.S.welfare programs are too generous.
C) Many Americans believe that access to welfare benefits contributes to the flood of immigrants.
D) Welfare programs tend to increase inflation and decrease exports.
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A) a depression -Consider This: Concerns a sustained and long-term downturn in economic activity such as the Great Depression of the 1930s.
B) an inflationary cycle
C) a mild recession
D) a severe recession
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A) the inaugurations of new presidents
B) technological innovations
C) soaring prices for energy
D) wars or other significant military conflicts -Consider This: Souring prices for energy have been mostly responsible for inflation.
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A) The economy would have become stronger.-Consider This: Raising interest rates is likely to weaken the economy because the borrowing of money becomes more expensive.
B) The economy would have weakened further.
C) Imports would have increased.
D) Unemployment would have decreased.
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A) exports
B) unemployment
C) inflation -Consider This: Monetary policy is mostly concerned with inflation.
D) money supply
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A) tax credits -Consider This: A tax incentive which allows certain taxpayers to subtract the amount of the credit from the total they owe the government.
B) tax deductions
C) tax expenditures
D) transfer payments
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A) The U.S.has longer unpaid leave than many other democracies.-Consider This: The majority of countries on this graph have longer paid and unpaid leave than the U.S.
B) Other democracies offer single parent families more leave than the U.S.
C) The U.S.is the only nation that does not offer paid parental leave.
D) Other democracies provide a year of paid leave to new parents.
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A) They can lead to lower capital gains tax rates.
B) They can lead to higher unemployment in years of budget deficits.
C) They can spur economic growth by increasing the cost of money for business.-Consider This: The Federal Reserve Board sets interest rates used by banks to borrow money.
D) They can spur economic growth by increasing the available money supply.
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A) fighting inflation
B) fighting unemployment -Consider This: Democrats are more concerned with keeping unemployment low.
C) increasing taxes
D) increasing spending
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A) raise interest rates
B) lower taxes -Consider This: Within the context of fiscal policy,the power to raise or lower taxes belongs to Congress.
C) increase government spending
D) increase exports
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A) progressive
B) proportional -Consider This: A tax by which the government takes the same share of income from everyone regardless of wealth.
C) regressive
D) transfer
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A) fiscalism
B) Keynesian -Consider This: This economic theory holds that government spending and deficits can help the economy deal with the boom and bust cycles.
C) monetarism
D) Reaganomics
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A) affect how much money is available to foreign governments for investment
B) use taxes and government spending to help stimulate or slow down the economy
C) determine how much interest the government will pay on the federal debt
D) stimulate the economy by increasing the number of imports into the United States -Consider This: Stimulation of the economy in this area is shaped by trade agreements between countries.
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A) sales taxes
B) payroll taxes
C) property taxes -Consider This: This tax is mostly used to fund schools.
D) income taxes
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A) poor economic management by the Federal Reserve board -Consider This: Federal Reserve board is involved in shaping monetary policy.
B) the growth in social welfare spending for programs like Social Security and Medicare
C) frequent and lingering episodes of inflation
D) increasingly regressive taxes and rising energy costs
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