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Explain the strategy behind government policies to
Explain the strategy behind government policies to

... amounts to designing a tax cut or an increase in government spending to match the needs of a particular recession. Perhaps the most critical concern relates to timing. To work, fiscal policy must be done at the right time. With active fiscal policy timing is difficult. Before the law is passed for a ...
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EC 11 Practice Exam No 2 Instructions. Use a number #2 pencil
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... (b) is the result of long-term changes in the domestic or world economy. (c) is always greater than cyclical unemployment. (d) is the easiest kind of unemployment to reduce using monetary and fiscal policy. 46. The wealth-effect says that consumption increases when prices fall because (a) bond price ...
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Spring 2015 TEST 3 w/ solution
Spring 2015 TEST 3 w/ solution

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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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