Which of the following provides health-care coverage to people age 65 and over?
A) Medicaid B) Social Security C) Medicare D) Health-Aid
C
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If the FOMC decides to engage in the selling of government bonds, what is the effect on the money supply?
A) a decrease B) an increase C) an initial increase followed by an additional rise when the bonds mature D) no change
What is a household's choice set or opportunity set?
What will be an ideal response?
Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have the following data: P = $20, AVC = $10, AFC = $10, and quantity of birthday cakes produced a day is 20 . You conclude that the bakery ends up at the end of the day with a
a. loss of $10 b. profit of $10 c. loss of $20 d. no loss, no profit e. loss of $40
If you are a sole proprietor of a firm and you do not pay yourself a regular wage, then the value of the wage you could have earned elsewhere is
A. an explicit cost. B. an accounting cost. C. an implicit cost. D. not a cost.