Nursing home care is covered by
A. Medicaid, regardless of income or wealth.
B. Medicaid, but only for the poor.
C. Medicare, Part A.
D. Medicare, Part B.
Answer: B
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If the nominal interest rate is 5.6 percent and the rate of inflation is 7.1 percent in a given year, then what is the corresponding real rate of return?
A) 12 .7 percent B) 1.5 percent C) -1.5 percent D) -12.7 percent
The tax base is
A) the minimum amount of tax revenue that government must collect each year. B) the maximum amount of tax revenue that government must collect each year. C) the sum of all incomes earned in the United States. D) the value of all goods, services, incomes, or wealth subject to taxation.
If the price of jelly increases 10 percent and the amount of peanut butter purchased decreases 20 percent, then the cross-price elasticity of these goods is:
A. 0.5. B. 2. C. 0.5. D. 2.
If the rate of interest did not equate saving and investment and total output was greater than total spending, the classical economist argued, competition would tend to force
A. product and resource prices down. B. product prices up and resource prices down. C. product prices up and resource prices up. D. product prices down and resource prices up.