In the United States, health care spending on people over age 65 is ________ on people aged 18 to 24
A) one third as much as
B) twice as much as
C) six times greater than
D) forty times greater than
Answer: C
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Government expenditures on goods and services include
i. the New York City Library's purchase of new books. ii. Washington D.C.'s purchase of gas for its city buses. iii. California's payment of wages to prison guards. A) i and ii B) i and iii C) i, ii and iii D) i only E) ii and iii
Which of the following statements best describes the production and allocation of resources after the United States entered World War II?
a. Government spending as a percentage of GNP during this period never exceeded the maximum level at the height of the Depression under Roosevelt's New Deal policies. b. Production shifted out closer to the production possibilities frontier, primarily as a result of technical change. c. Production shifted out toward the production possibilities frontier, primarily as a result of underutilized resources being utilized. d. Greater production of goods to support the war involved nominally higher incidents of disabling injuries in the workplace, yet not increases in the rates of disabling injuries.
When describing the opportunity cost of two producers, economists use the term
a. natural advantage. b. trading advantage. c. comparative advantage. d. absolute advantage.
Which of the following groups has the lowest median income in the United States?
A. Married couples with both spouses working B. Female-headed families with no husband present C. Male-headed families with no wife present D. Married couple families with the wife not working