Which of the following financed the largest share of health-care spending in 2011?
A. Medicare
B. Medicaid
C. Copayments and deductions paid by patients
D. Military and other public insurance (excl. Medicare and Medicaid)
A. Medicare
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When interest rates fall, the IS schedule will experience
A) rightward movement along the curve. B) leftward movement along the curve. C) a shift to the left. D) a shift to the right.
When spending and incomes in an economy increase,
A) imports are likely to increase. B) imports are likely to be unchanged. C) imports are likely to decrease. D) exports are likely to decrease.
If a price floor is a binding constraint on a market, then a. the equilibrium price must be above the price floor
b. the quantity demanded must exceed the quantity supplied. c. sellers cannot sell all they want to sell at the price floor. d. buyers cannot buy all they want to buy at the price floor.
The Fed conducts an open market purchase of $10 million in government securities. If the reserve ratio is 20%, what is the maximum change in the money supply? Assume banks hold no excess reserves and there is no currency withdrawal from the banking system.
A) maximum increase in money supply = $10 million B) maximum decrease in money supply = $10 million C) maximum increase in money supply = $50 million D) maximum decrease in money supply = $50 million