With the aging of the American population, it might be necessary to reduce the medical benefits to elderly. How do you feel about this idea?
What will be an ideal response?
This is a personal question, but unless there is some sort of restructuring of the medical
system, it may be necessary to reduce benefits, increase premiums, or limit coverage of
certain types of care. One solution may lie in greater emphasis on preventative care against
smoking and obesity.
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If a Lorenz curve for income moves rightward and becomes more bowed out over time, then
A) the population is growing. B) income is growing. C) income is being more equally distributed. D) income is being more unequally distributed.
Which of the following is least accurate?
a. In 2007, the United States imports significantly more than it exports. b. Tariffs from imported goods accounted for over 90% of federal government revenue for the first 80 years of the United States. c. The largest trading partner of the colonial United States was England. d. In the late 1800s the US significantly increased its imports of raw materials to fuel its increased production of manufactured goods. e. During the Napoleonic War, the United States' exports decreased significantly because the war disrupted trade routes.
____ occur(s) when an X percent increase in input use raises output by more than X percent, so that the more the firm produces, the lower its per-unit costs become.
A. Economies of scope B. Scale economies C. Product differentiation D. Perfect competition
An increase in the interest rate will cause
A) a reduction in the supply of central bank money. B) a reduction in the demand for currency. C) a reduction in the demand for reserves. D) all of the above E) both B and C