Which of the following statements is true about the Medicaid program?
a. Eligibility standards are uniform across states.
b. The program is totally funded by federal tax revenues.
c. Everyone in the poverty-level population is eligible for benefits.
d. About 20% of total outlays are for nursing home and home health care for the elderly.
e. All of the above are true.
D
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Into which category of aggregate expenditure would each of the following transactions fall?
a. Sandra MacMillian purchases a new Ford Focus. b. The city of Richardson buys 5 new garbage trucks. c. Adrian Garcia buys a newly constructed townhome. d. A consumer in Latvia orders an iPhone from Apple. e. Ford Motor Company buys 300 new iPhones from Apple.
If Sally Smith creates VCU1 by playing an online game, the effect is to cause the nation's:
a. Monetary base to rise. b. M2 money supply to rise. c. M2 money multiplier to rise. d. Monetary base to remain the same.
Refer to the accompanying figure, which shows the annual domestic supply and annual domestic demand for jeans in a small country.
Suppose this country is open to trade with the rest of the world, and the world price of a pair of jeans is $40. If the government imposes a quota on imported jeans of 12,000 pairs per year, then the new equilibrium price of jeans in this country will be:
A. $80 B. $60 C. $120 D. $100
The order condition is a necessary and sufficient condition for identification of an equation in a simultaneous equations model.
Answer the following statement true (T) or false (F)