Consider an overlapping generation set up with pay-as-you-go social security system in a hypothetical economy. there are 100 old retirees and 103 young workers at the current period. old retirees earned $1,000 each when they were young. young workers now earn $1,040 each. suppose that the population growth is constant and there is a fixed payroll tax of 15%, which is used to finance the pay-as-you-go social security system. (a) what is the population growth rate, n? (b) how much is the total contribution of young workers to the social security system in the current period? (c) how much each retiree can receive from the social security system? (d) how much was the contribution of each old retiree when he or she was young? (e) what is the implicit return on the social security system?

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak