In 2015, Medicare cost taxpayers
A. $2 trillion.
B. $2 billion.
C. $630 billion.
D. $2 million.
Answer: C
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Consumption expenditure is 15,000, government purchases are 5,000, planned investment spending is 4,000 and net exports are 1,500. If total output is 25,000, then unplanned inventory investment is ________
A) negative 500 B) 2,500 C) 3,500 D) 4,000 E) negative 450
Which of the following measures did President Bush adopt in 2001 to get the economy moving again?
a. A hike in the wages of workers b. A ten-year tax cut c. An increase in taxes on high-income households d. Liquidation of money supply e. A decrease in government spending
According to the text, what explains why a firm would produce different brands of an essentially identical (or highly close-substitute) good? With different brands, the firm
a. creates higher productivity b. increases its market share c. better satisfies demand d. increases the effectiveness of its advertising e. lowers the cost structures of each brand so that it becomes more efficient
Public housing is an example of
A. Money income. B. In-kind income. C. Personal expenditure. D. Free goods.