Real expenditures on Medicare and Medicaid
a. rose during the 1970s and 1980s, but they have been declining since 1990.
b. fell during the 1970s and 1980s, but they have been increasing since 1990.
c. increased at about the same rate as real GDP during the last three decades.
d. have approximately doubled during each of the last three decades.
D
You might also like to view...
The role that dead capital plays in a country's economic growth is that
A) growth increases since the firms using the dead capital are using it for free. B) growth increases because the dead capital is replaced with more technologically efficient capital. C) growth neither increases nor is impaired by dead capital. D) growth is impaired since the capital cannot be allocated to its most efficient use.
Liquidity is the
A) speed with which the price of an asset changes as its intrinsic value changes. B) inverse of the velocity of money. C) same as the velocity of money. D) ease with which an asset can be converted into money.
The demand for labor is different from the demand for final goods and services because
A) the law of demand does not apply to the demand for labor. B) the demand for labor is derived from the demand for the good or service the labor is used to produce. C) it is a demand for people, not inanimate objects. D) the demand for labor is more inelastic than the demand for the goods and services produced with this labor.
Adam Smith believed that monopoly is the most efficient market structure
a. True b. False Indicate whether the statement is true or false