Subsidies paid to the health care industry for Medicare patients are paid by
A. Congress.
B. the Teamsters union.
C. the Federal Reserve.
D. current taxes.
Answer: D
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The rules of accounting generally require that ________ costs be used for purposes of keeping a company's financial records and for paying taxes. These costs are sometimes called ________ costs
A) explicit; accounting B) total; economic C) real; explicit D) economic; legal
A decrease in the quantity of labor supplied in response to a higher wage would be due to the:
A. substitution effect. B. price effect. C. income effect. D. tax effect.
Which of the following policy options would not be used to eliminate an inflationary gap?
a. Decrease government spending. b. Decrease consumption. c. Increase investment. d. Decrease taxes.
The Fed's efforts to attain full employment are complicated by
a. the persistence of cyclical unemployment b. the instability of the inflation rate c. new legislation that attempts to avoid financial panics d. the difficulty of determining what normal unemployment means e. conflicting objectives among its member banks