During recessions natural real GDP
A) falls.
B) increases.
C) remains constant.
D) A, B, or C do occur during any given recession.
B
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A Treasury security with an original maturity of twenty years is called a
A) bond. B) note. C) bill. D) debenture.
With specialization
A) opportunity costs tend to be constant. B) there are greater gains in material well being. C) there is more emphasis on self-reliance. D) society is more productive while individuals are less productive.
Suppose the government abolished the minimum wage law and the law that requires union wage rates to be paid on all government contract jobs. We would expect to see
A. a decline in the natural rate of unemployment. B. the duration of unemployment to increase. C. an increase in claims for unemployment benefits. D. a recession.
For every dollar in costs to Medicare Part B, ________ cents is paid by recipients, and ________ cents by the taxpayer.
A. 67; 33 B. 50; 50 C. 25; 75 D. 75; 25