According to this Application, which of the following is NOT a strategy that the government can pursue to address the rising cost of federal retirement and health care programs?
A) increase the age at which retirement benefits begin to be paid
B) promote government saving and investment to increase real GDP over time
C) borrow from the public to finance the programs
D) reform the health care system to encourage more competition to reduce health care expenditures
C
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Suppose we want to use game theory to analyze how an oligopolist selects its optimal price. The cells of the payoff matrix show
A) the strategy that a firm must pursue to earn various levels of profit. B) the profit that each producer can expect to earn by pursuing a single strategy. C) the expected profits of rival firms. D) the profit that each producer can expect to earn from every combination of strategies by the firms in the market.
A general rule of thumb is that if, after a period of increases, the leading indicator index sustains ________ consecutive declines, a recession (or at least a slowing of the economy) will follow
A) three B) four C) five D) six
A decrease in the level of real GDP in the economy leads to:
A. a leftward shift in the demand for money curve. B. a rightward shift in the demand for money curve. C. a leftward movement along the demand for money curve. D. a rightward movement along the demand for money curve.
A ________ creates a situation in which the price received by sellers ________ the price paid by buyers.
Fill in the blank(s) with the appropriate word(s).