The Annual Reports of the Trustees of the Medicare Trust Fund are based upon projections of
A. wages and interest rates.
B. wages and interest rates, along with fertility rates and life expectancies.
C. fertility rates and life expectancies.
D. federal budget deficits and trade deficits.
Answer: B
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The market price of a factor of production that is in fixed supply is determined only by demand
Indicate whether the statement is true or false
A share of stock represents a claim on the assets of all the partners
Indicate whether the statement is true or false
Before the period of modern economic growth:
A. only civilizations such as the Roman Empire experienced economic growth. B. rates of population growth virtually matched rates of output growth. C. most economies realized high rates of growth in output per person. D. output and population growth were stagnant.
At the Pampered Pet Salon the marginal products of the first, second, and third workers are 20, 16, and 10 dogs washed, respectively. The total product (number of dogs washed) of the three worker is
A. 15.33. B. 30. C. 46. D. 138.