According to Martin Feldstein,
A. Potential output in the US was not affected by Social Security.
B. The labor supply curve is vertical.
C. Potential output in the US was reduced by $130 billion in 1999.
D. None of the above are correct.
Answer:C
According to Martin Feldstein,
A. Potential output in the US was not affected by Social Security. B. The labor supply curve is vertical. C. Potential output in the US was reduced by $130 billion in 1999. D. None of the above are correct.