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eChenn - Productivity Commission
eChenn - Productivity Commission

... allow the worker to choose their preferred days of engagement but their days off has to be in 2 day blocks. A 2 day break ensures there is still time for family, resting and being able to do the things you do not get time to do. By having preferred hours, workers can choose when they want to work, ...
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... 1. Answers will vary, but should indicate that a depression is a prolonged and deep recession. The precise definitions of prolonged and deep are debatable; answers should include data on the unemployment rate and real GDP and indicate the time frame over which those measures were recorded. 2. Full e ...
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Chapter 11
Chapter 11

... expenditures, the government has a budget surplus. If expenditures exceed tax revenues, the government has a budget deficit. If tax revenues equal expenditures, the government has a balanced budget. D. The Budget in Historical Perspective 1. Figure 26.2 (page 606/260) shows the government’s tax reve ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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