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Economics

Suppose the average Social Security benefits in the nation are $14,000 per year. The number of Social Security pension recipients is currently 50 million. There are 150 million workers in the workforce this year and the average taxable wage per worker is $30,000 per year. a) Calculate the dependency ratio (the ratio of the number of retirees to the labor force). b) Calculate the average replacement rate (the ratio of Social Security pension benefits to average wage prior to retirement).

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91407844

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