The qualifying income level for Medicaid
a. is $10,000
b. is $14,000
c. is set separately by each state
d. is set yearly by the Bureau of the Census
e. varies inversely with the number of children in the family
C
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The theory of rational expectations concludes that
A. discretionary policies are more effective than rules in stabilizing the economy. B. discretionary fiscal policy is a more powerful stabilization device than is discretionary monetary policy. C. discretionary monetary policy is a more powerful stabilization device than is discretionary fiscal policy. D. since expectations can leave discretionary stabilization policies ineffective, it is better to rely upon policy rules.
A monopolist claims his profit-maximizing markup factor is 10. What is the price elasticity of demand for the firm's product?
A. ?2.0 B. ?2.5 C. ?1.5 D. None of the answers are correct.
Which of the following has occurred for the United States since 1960?
A) The ratio of exports to GDP (X/Y) and the ratio of imports to GDP (IM/Y) have both increased. B) X/Y has increased while IM/Y has decreased. C) X/Y has decreased and IM/Y has increased. D) X/Y has decreased and IM/Y has decreased.