The number of people receiving Medicare is expected to grow to 74 million by the year
A) 2105. B) 2020. C) 2025. D) 2075.
C
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If the demand curve for a good is horizontal, a tax is levied on this product is
A) split between the buyers and the sellers but not evenly so that either the buyer or the seller pays more. B) split evenly between the buyers and the sellers. C) paid entirely by buyers. D) paid entirely by sellers. E) not paid by either the buyers or the sellers.
During 2009, General Motors announced that it would close its Saturn facilities in the United States because of the foreign competition it faced. This corporate move
A) increased structural unemployment. B) increased avoidable unemployment. C) increased cyclical unemployment. D) had no impact on unemployment. E) decreased frictional unemployment.
An increase in frictional unemployment will
A) shift the long-run Phillips curve to the right. B) shift the short-run Phillips curve to the right. C) increase the natural rate of unemployment. D) All of the above are correct. E) None of the above is correct.
Which of the following statements indicates the idea of trade-offs?
A) "I chose the road less traveled." B) "The devil made me do it." C) "You've got me under your spell." D) "Always give it the best that you can."