Since the Late 1980s, the Social Security System Has Collected

question 82

Multiple Choice

Since the late 1980s, the Social Security system has collected more payroll taxes than it paid out in benefits.The excess funds have been

• A)invested overseas so that when the investment is cashed out it drains the economy of a foreign country.
• B)used to buy gold bullion, which is stored in Fort Knox.
• C)loaned to the federal government to pay for general spending.
• D)invested in stocks and bonds by future recipients of the money.
• E)used to purchase private real estate.

Recognize the effect of non est factum in negating contractual obligations.

Understand the role and enforcement of assignments in contract law.

Evaluate the significance of intention and interpretation in resolving contract ambiguities and disputes.

Analyze the impact of fraudulent misrepresentation on contract enforceability.

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Definitions:

Market Structures

The organizational and other characteristics of a market that influence the nature of competition and pricing.

Oligopolistic Industry

A market structure characterized by a small number of firms that dominate the market, leading to competitive yet interdependent pricing and marketing strategies.

Collude Effectively

To engage in a secret agreement or cooperation among parties, often competitors, for a deceitful or illegal purpose, such as fixing prices or rigging markets.

Pure Monopoly

describes a market structure where a single company has exclusive control over the supply of a product or service, with no close substitutes.