Medicare and Social Security are examples of
A) transfer payments.
B) public goods.
C) programs that do not respond to rational economic incentives.
D) a free market system.
Answer: A
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Refer to Exhibit 10-3. When disposable income equals $2,300, saving equals
a. -$20. b. -$10. c. 0. d. $10. e. $20.
The use of a dollar bill to buy a concert ticket represents the function of money as a:
a. medium of exchange. b. unit of account. c. store of value. d. all of these.
Which of the following statements is true? a. With an increase in the demand for health care, the quantity supplied increases but supply does not change. b. With an increase in the demand for health care, the supply curve shifts to the right
c. With an increase in the demand for health care, the supply curve shifts to the left. d. With an increase in the demand for health care, the price of the product decreases. e. With an increase in the demand for health care, the quantity supplied decreases but the supply does not change.
Which of the following laws ensures that men and women who perform the same work at the same firm receive the same pay?
a. Equal Pay Act of 1963 b. Civil Rights Act of 1964 c. Civil Rights Act of 1991 d. Fair Labor Standards Act of 1938