Medicare and Social Security are examples of
A) transfer payment programs.
B) public goods.
C) programs that do not respond to rational economic incentives.
D) the efficient allocation of resources under a free market system.
A
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Along the long-run Phillips curve, the unemployment rate ________, and the inflation rate ________
A) can be any value; is equal to the natural inflation rate B) is equal to the natural unemployment rate; is equal to the natural inflation rate C) is equal to the natural unemployment rate; can be any value D) can be any value; can be any value E) None of the above answers is correct.
As a result of the recession in 2008, the default risk increased. How did this change affect the loanable funds market?
A) There was a movement up along the supply of loanable funds curve. B) There was a leftward shift in the supply of loanable funds curve. C) There was a movement down along the demand for loanable funds curve. D) There was a rightward shift in the supply of loanable funds curve.
Refer to Figure 10.8. Other things equal, a decrease in the nominal money supply would best be represented by
A) a movement from point A to point C. B) a movement from point A to point D. C) a shift from LM1 to LM2. D) a shift from LM2 to LM1.
The Federal Open Market Committee meets
A. once a month. B. eight times a year. C. four times a year. D. semi-annually.