The major objective of Medicaid is to:
A. provide health care services to the aged.
B. provide health care services to those receiving public assistance.
C. contain rising health care costs.
D. make a basic health care package available to all Americans.
Answer: B
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"Allocative efficiency in the production of cherries means that consumers can eat all of the cherries they desire." Is this statement true or false? Explain your answer
What will be an ideal response?
Nominal GDP is proportional to money stock when
a. velocity of money is volatile. b. velocity of money is constant. c. there are major changes in the value of velocity of money. d. velocity of money is zero.
Your bank account pays 3% interest per year. You loan a friend $100 for one year at zero interest. Assuming the loan is paid on time the opportunity cost of the loan is
A. $0. B. $103. C. $3. D. $100.
Suppose you operate a factory that produces 500 lawn mowers a week. If your weekly variable cost is $40,000 and your weekly total cost is $50,000, the average:
A. cost of production is $80. B. fixed cost of production is $80. C. variable cost of production is $100. D. fixed cost of production is $20.