As a percentage of GDP, health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate
Indicate whether the statement is true or false
TRUE
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Which of the following will shift the supply curve for laptop computers to the left?
A) development of a cheaper microchip used in laptop computer production B) a subsidy to the laptop computer industry C) expectations of a future decline in laptop computer prices D) a reduction of the number of firms that make laptop computers
A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output. B) comparable output of other workers in similar jobs. C) total number of goods produced by the individual. D) index of occupational values.
An increase in an individual's income without changing relative prices will
a. rotate the budget constraint about the X-axis. b. shift the indifference curves outward. c. shift the budget constraint outward in a parallel way. d. rotate the budget constraint about the Y axis.
An entrepreneur can be fairly certain about some factors associated with production, but is most likely to use guesswork or intuition to estimate
a. wage rate b. monthly rent c. price d. labor productivity e. interest rate