Social Security Began Running a Deficit for the First Time

question 49

Multiple Choice

Social Security began running a deficit for the first time in what year?

• A)1990
• B)1995
• C)2000
• D)2005
• E)2010

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output produced, indicating the cost of producing each unit of output.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor costs.

Fixed Costs

Costs that do not change with the amount of goods or services produced by a business over a certain period, such as rent, salaries, and insurance premiums.

Total Revenue

Total Revenue is the total amount of money received by a company for goods sold or services provided during a certain time period.