Unlike Social Security's pension program, Medicare's funding is anchored in a trust fund
Indicate whether the statement is true or false
F
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A normal good is defined by economists to be a good
a. with a negatively-sloped demand curve. b. that is purchased by at least 75 percent of the population. c. that is bought by consumers with normal tastes. d. whose demand increases when incomes increase. e. whose demand decreases when incomes increase.
The marginal product of an input in the production process is the increase in
a. total revenue obtained from an additional unit of that input. b. profit obtained from an additional unit of that input. c. total revenue obtained from an additional unit of that input. d. quantity of output obtained from an additional unit of that input.
Fiscal policy may not be effective because it takes time for a policy change to affect the economy, known as the ________ lag.
A. recognition B. implementation C. impact D. legislative
Policies focused on putting people to work by reducing the costs to their employers would be considered
A. supply-side policies. B. demand-side and supply-side policies. C. demand-side policies. D. monetary policies.