The largest and costly welfare program in the U.S. is:
a. Social Security.
b. Medicaid.
c. Medicare.
d. Unemployment Insurance.
b
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If the inflation rate is 2.5 percent and the nominal interest rate is 10 percent, then the real interest rate is
A) 2.5 percent. B) 7.5 percent. C) -2.5 percent. D) -7.5 percent. E) 12.5 percent.
"Tit-for-tat" is
A) a form of prisoner's dilemma. B) the process in which games find equilibrium. C) a way to enforce a cooperative game. D) a child's game.
The efficient price of a license fee is determined by the difference between
a. Marginal revenue and marginal cost b. Average revenue and marginal cost c. Total revenue and total cost d. Average revenue and total cost e. Total revenue and marginal cost
If you earn and spend $300 per week and maintain an average cash balance of $100 per week, your velocity of money is
A) $100. B) $200. C) 3. D) 2.