Chapter 21: Q. 40 (page 525)
As the baby boom generation retires, the ratio of retirees to workers will increase noticeably. How will this affect the Social Security program? How will this affect the standard of living of the average American?
The baby boomers will put more pressure on the Social Security Program.
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What is the difference between being unemployed
and being out of the labor force?
Is the increase in labor force participation rates among women better thought of as causing an increase in cyclical unemployment or an increase in the natural rate of unemployment? Why?
What forces create the natural rate of unemployment for an economy?
Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.
Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say , versus low, say ? Explain.
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