Which of the following contributes to the projected rise in government spending on Social Security and Medicare as a percentage of GDP?
a. increasing life expectancies
b. increasing healthcare costs
c. increasing fertility rates
d. Both a and b are correct.
d
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Macroeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle
Indicate whether the statement is true or false
Logan finds $10 in his jacket pocket and deposits it into a bank. As a result of this single transaction, M1 has
A) increased by more than $10. B) increased by $10. C) not changed. D) increased by less than $10.
If a negative externality were present in a market, the social benefit curve would be:
A. above the private demand curve. B. below the private demand curve. C. the same as the private demand curve. D. Cannot say without more information.
Which of the following is the best way for a student of economics to make sensible judgments about real-world markets and real-world governments?
a. In the real world, government action is always the best way to control markets. b. We must see the strengths and weaknesses of both markets and government. c. Markets’ lack of flexibility must produce unwanted results, such as monopolies and worker oppression. d. Government action is imperfect and does not reflect majority views, so it has no useful role to play in regulating markets.