Medicare and Medicaid were enacted by the Johnson administration in 1965 as amendments to which federal law already in existence?
a. Welfare Act of 1960.
b. Social Security Act.
c. Employee Retirement and Income Security Act.
d. Managed Care Act.
e. Equal Rights Act.
B
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In a 2-good model, suppose that all individuals have tastes that are quasilinear in either good 1 or in good 2 (with some of each represented in the group.) The quasilinearity of everyone's tastes is then sufficient to insure that we can treat the group as if it were a single representative consumer.
Answer the following statement true (T) or false (F)
Which of the following companies was part of the original Dow Jones Industrial Average?
A. Chicago Gas Company B. National Lead Company C. General Motors Corp. D. AT&T Inc. E. a and b
It is true in monopoly pricing that the
a. sky is not the limit. b. market cannot impose a price on a monopolist. c. monopolist is a price maker. d. All of the above are correct.
Someone unemployed for a long period of time due to technological change would be described as structurally unemployed.
Answer the following statement true (T) or false (F)