The Previous Surplus of the Social Security System Is Expected

question 164

Multiple Choice

The previous surplus of the Social Security system is expected to become a deficit because the

• A) payroll tax rate is scheduled to decline at that time.
• B) number of workers relative to the number of Social Security recipients will decline as the baby boom generation moves into the retirement phase of life.
• C) stock market is not expected to perform nearly as well during the next two decades as was the case during the 1980s and 1990s.
• D) growth rate of the U.S. economy is expected to slow during the next two decades.

Understand the jurisdictional nuances of consumer protection and sales law.

Understand the relationship between price changes and movements along the supply and demand curves.

Identify the effects of changes in non-price factors (e.g., income, price of related goods, number of sellers) on supply and demand curves.

Define and recognize market equilibrium and its changes due to shifts in supply and demand.

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Definitions:

National Labor Relations

Pertains to the laws and regulations governing the rights of employees and employers, particularly regarding collective bargaining and workplace disputes.

Equal Employment Opportunity Commission

A federal agency that administers and enforces civil rights laws against workplace discrimination in the United States.

Federal Register

An official daily publication by the US government that documents proposed and final administrative regulations, public notices, and executive orders.

Occupational Safety

The practice of implementing safety procedures and standards to protect workers from hazards associated with their job.