In the U.S., health and Medicare account for _____ of all federal spending
a. 29%
b. 24%
c. 17%
d. 6%
b
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
A supply curve slopes upward because quantity supplied is higher when price is higher
a. True b. False Indicate whether the statement is true or false
Major league baseball players get paid more than minor league baseball players because of
a. compensating differentials. b. higher levels of educational attainment. c. greater abilities. d. All of the above are correct.
The cost of an extra unit of coal in Australia in terms of oil given up is
A. 100.
B. 20.
C. 5.
D. 1/5.