Subsidies paid to the health care industry for Medicare patients are paid by
A) Congress.
B) the Teamsters union.
C) current taxes.
D) the Federal Reserve.
C
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A 45-degree line on a graph with expenditures, E, on the vertical axis and production, Y, on the horizontal axis, represents
A) the line of disequilibrium levels of income. B) all possible equilibrium levels of production and expenditures. C) some of the equilibrium levels of production and expenditures. D) None of the above.
The method of financing the Social Security system until 1983 is best described as
a. trust fund. b. excise tax. c. indirect tax. d. "pay as you go."
Consider an industry that is in long-run equilibrium. An increase in demand leads to an increase in the price of the good. We know that this is
A) a decreasing-cost industry. B) a constant cost industry. C) an increasing-cost industry. D) not a competitive industry.
The Package Store hires workers to wrap packages. The store sells this service for $5. The marginal revenue product of this store's fifth worker is $50. The marginal product of the fifth worker is
A. 0.01 package. B. 1 package. C. 10 packages. D. indeterminate from this information.