Eco 450 Week 6 Quiz

ECO 450 Week 6 Quiz

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Question 1

2 out of 2 points

The Social Security retirement system:

Question 2

A retiree subject to the earnings test under Social Security:

Question 3

A worker earns $2,000 per month before taxes. He pays $140 per month payroll tax on those wages. In addition, the income taxes on those wages are $360 per month. On retirement, the worker receives a Social Security pension of $750 per month. Which of the following statements is true?

Question 4

Unless legislation is introduced to change the normal retirement age, people born in 1960 or later will be able to retire with full Social Security benefits at age:

Question 5

2 out of 2 points

Which of the following can decrease tax rates necessary to pay pensions for a pay-as-you-go pension system?

Question 6

2 out of 2 points

A nation has 40 million current retirees and a work force of 100 million. Which of the following is true?

Question 7

2 out of 2 points

The gross replacement rate:

Question 8

A pay-as-you-go social security retirement system is:

Question 9

2 out of 2 points

Social Security tax rates can be reduced if:

Question 10

2 out of 2 points

The asset-substitution effect of the Social Security retirement system leads all workers to:

Question 11

2 out of 2 points

Which of the following is a consequence of a growing federal budget deficit in the United States?

Question 12

2 out of 2 points

Given the structure and level of gross replacement rates and the expected future growth of labor earnings subject to the payroll tax, the tax rates used to tax payrolls were increased in the 1980s because:

Question 13

The induced-retirement effect of the Social Security pension system induces workers to:

Question 14

Unemployment insurance benefits are:

Question 15

The Social Security Act was implemented in the United States in:

Question 16

Which of the following is an...