Which of the following is a major reason why the Medicare program is in such financial trouble?
A) Workers are not paying enough into the program.
B) The government set reimbursement rates too high.
C) Because medical services are subsidized by the government, both consumption by the elderly and the cost of services have increased.
D) There is a shortage of medical school applicants.
C
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Which of the following helps in preventing firms in the U.S. from forming collusive agreements?
A) The low demand faced by colluding firms B) The antitrust policy of the government C) The high rate of corporate income taxes D) The low profit earned by firms after colluding
The benefit that Jack receives from consuming a pack of french fries is 10 utils. He expects a future health cost of eating french fries at 20 utils
If Jack discounts delayed utils with a weight of 1/4, should he consume french fries? Explain your answer.
Leontief explained his findings by arguing that U.S. labor is more efficient than their foreign counterparts
Indicate whether the statement is true or false
Over the past 40 years, which of the following has the U.S. economy experienced?
A. secular deflation B. stable prices and so zero inflation rate C. persistent deflation D. persistent inflation