Probably the Greatest Long-Term Threat to the Viability of the Social

question 12

Multiple Choice

Probably the greatest long-term threat to the viability of the Social Security system is the

• A)pending retirement of baby boomers.
• B)dramatic increase in health care costs.
• C)declining political clout of senior citizens.
• D)number of current workers choosing not to participate.
• E)declining value of the Treasury bonds in which the Social Security trust fund is invested.

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Definitions:

Economists

Professionals specialized in the study of economics, focusing on the production, distribution, and consumption of goods and services.

Economic Development

The process of improving economic well-being and quality of life through economic growth, creation of jobs, and the implementation of social and technological advancements.

Entrepreneurial Activity

The act of starting new businesses, initiating innovations, and introducing new products or services to the market, often seen as a driver of economic growth.

Import Substitution

A policy aimed at encouraging domestic production of goods that were previously imported.