Based on its current rate of growth, health care spending as a percentage of GDP through Medicare, Medicaid, and other U.S. government programs is expected to
A) stabilize within the next 20 years.
B) account for a majority of spending as a percentage of GDP within 5 years.
C) slow down during this decade.
D) double over the next 40 years.
Answer: D
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A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio?
a. 2 percent. b. 3 percent. c. 6 percent. d. 12 percent.
Which of the following sectors in the economy accounted for about 70% of the spending in the U.S. during 2009?
a. The government b. Firms c. The foreign sector d. Investors e. Households
Market economies are based on private enterprise, which means
a. there is no private property. b. private companies control the government. c. economic decision-making happens through markets. d. all property is private.
Expansionary fiscal policy normally raises interest rates.
Answer the following statement true (T) or false (F)