The largest expansions in transfer payments at the U.S. federal level have been in Social Seccurity and Medicare.
a. true
b. false
Answer: a. true
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Fill in the blank. A(n) ________ market requires perfect and complete information among all participants
A) monopolized B) oligopolized C) perfectly competitive D) effective
During the Great Depression, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment
A) increased the natural rate of unemployment. B) could have increased or decreased the natural rate of unemployment. C) decreased the natural rate of unemployment. D) had no effect on the natural rate of unemployment.
Refer to Figure 27-1. Suppose the economy is in short-run equilibrium above potential GDP and wages and prices are rising
If contractionary policy is used to move the economy back to long run equilibrium, this would be depicted as a movement from ________ using the static AD-AS model in the figure above. A) B to A B) A to E C) C to B D) E to A E) D to C
A nation engaging in trade according to the Ricardian model will find its consumption bundle
A) inside its production possibilities frontier. B) on its production possibilities frontier. C) outside its production possibilities frontier. D) inside its trade-partner's production possibilities frontier. E) on its trade-partner's production possibilities frontier.