Which of the following statements is true about the Medicaid program?
a. The law places a ceiling on state per capita spending for enrollees.
b. The majority of total outlays are for the elderly and disabled.
c. Eligibility standards are uniform across all states.
d. Federal tax revenues provide 100 percent of the program's funding.
e. Everyone in the poverty-level population is eligible for benefits.
b. The majority of total outlays are for the elderly and disabled.
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The official rate of unemployment is based on a(n)
a. door-to-door survey. b. telephone survey. c. employer survey. d. payroll survey.
For which of the following medical goods or services is the income elasticity of demand largest?
a. Emergency services after a car accident. b. Measles shots. c. Physical examinations for life insurance applications. d. Medical tests to diagnose specific symptoms. e. Face-lifts.
Cyclical unemployment is caused by
a. frictional and structural unemployment b. frictional but not structural unemployment c. structural but not frictional unemployment d. neither frictional nor structural unemployment
Price exceeds marginal cost for a monopolistically competitive firm in long-run equilibrium because:
A. demand is perfectly elastic. B. economic profits are negative. C. economic profits are positive. D. demand is not perfectly elastic.