Amendments in the mid-1960s to the Social Security Act created:
a. major medical insurance.
b. managed care.
c. tax exemptions for health insurance as an employee benefit.
d. Medicare and Medicaid.
e. Blue Cross and Blue Shield.
d. Medicare and Medicaid.
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A small commercial bank has $10,000 in actual reserves, $60,000 in deposits, and has a 10 percent desired reserve ratio. Its excess reserves are
A) $4,000. B) $10,000. C) $50,000. D) $6,000.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Factors that impede the attainment of economic efficiency in the public sector are called:
A), externalities. B) voting irregularities. C) government failures. D) market failures.