Given the current structure of health-care finance, which of the following is most likely to occur when the baby boom generation begins to retire and the elderly population increases rapidly during the years following 2010?
a. The demand for health-care services will decrease.
b. The prices of health-care services will grow less rapidly than has been the case during the last three decades.
c. The real (adjusted for inflation) expenditures on Medicare and the taxes to finance the program will tend to decline.
d. The health-care inflation and spending growth of recent decades will continue or even accelerate.
D
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If the marginal rent cost of moving from Apartment 1 to Apartment 2 is -$60 and marginal commuting cost of moving from Apartment 1 to Apartment 2 is $40:
A) moving from Apartment 1 to 2 will cost the renter $60 more in rent and $40 more in commuting. B) moving from Apartment 1 to 2 will save the renter $60 more in rent and $40 more in commuting. C) moving from Apartment 1 to 2 will save the renter $60 in rent but cost $40 more in commuting. D) moving from Apartment 1 to 2 will cost the renter $60 more in rent but save $40 in commuting.
In the above table, what is the marginal factor cost of the 6th worker?
A) $30 B) $18 C) $120 D) $20
Which of the following statements is correct?
a. Followers of the liberalism political philosophy believe that society should maximize the total of individual utilities. b. The poverty line is adjusted for regional differences in the costs of raising children. c. One advantage to the Earned Income Tax Credit (EITC) is that it benefits the working poor. d. Libertarians pursue policies to redistribute income from the rich to the poor.
The barrier to entry which requires electricians to be licensed is an example of
A. government rules. B. economies of scale. C. ownership of a scarce factor of production. D. patents.