Which of the following is NOT a consequence of the introduction of the Medicare program?
A) an increased quantity of medical services demanded
B) an increased ability for the elderly to obtain medical services
C) an increased ability for the poor to obtain medical services
D) a reduced demand for medical services
D
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Suppose you withdraw $1,000 from your savings account and put it under your mattress. Briefly explain how this will affect M1 and M2
What will be an ideal response?
Economists argue that:
a. accounting costs consider all types of costs including implicit costs b. there is an opportunity cost associated with all decisions. c. economic decisions do not have opportunity costs but other decisions do. d. economic decisions should consider sunk costs
Which of the following variables is capable of continually increasing aggregate demand with no offsetting influence on any of the components of total spending?
A) the inflation rate B) the interest rate C) government spending D) the money supply E) the wage rate
Assume that an economy has 2000 workers, each working 3000 hours per year. The average real output per worker-hour is $10. What will the total output or real GDP be? Explain
Please provide the best answer for the statement.