If Households Ignore Effects on Future Generations, a Pay as You

question 22

Multiple Choice

If households ignore effects on future generations, a pay as you go social security system:

• A)reduces investment.
• B)increases GDP in the long run.
• C)increases private saving.
• D)all of the above.

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Definitions:

Express Warranty

A seller's explicit promise or guarantee, assuring the quality or performance of a product, often included in the written contract.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law among the states.

Warranty Rights

Legal entitlements or protections afforded to consumers, guaranteeing that a product will meet certain standards of performance and quality.

Privity

The direct relationship between parties to a contract, which determines who can sue whom to enforce rights or obligations under the contract.