Presently, there is a minimum and maximum social security benefit paid to retirees. between these two bounds, a retiree's benefit level depends on how much she contributed to the system over her work life. suppose social security was changed so that everyone aged 65 years or older was paid $12,000 per year regardless of how much she earned over her working life or whether she continued to work after the age of 65. how would this likely affect hours worked of retirees? [hint: you should consider income and substitution effects.]

Suppose the government decides to issue a new savings bond that is guaranteed to double in value if you hold it for 20 years. assume you purchase a bond that costs $25. a. what is the exact rate of return you would earn if you held the bond for 20 years until it doubled in value? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) b. if you purchased the bond for $25 in 2017 at the then current interest rate of .27 percent year, how much would the bond be worth in 2027? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) c. in 2027, instead of cashing in the bond for its then current value, you decide to hold the bond until it doubles in face value in 2037. what annual rate of return will you earn over the last 10 years? (do not