Under the current structure of Medicare, the movement of the baby boom generation into the retirement phase of life will
a. reduce the overall demand for medical services because the elderly will not have to pay for hospitalization in the future.
b. place downward pressure on healthcare prices.
c. cause Medicare expenditures to increase and necessitate the need for higher taxes to finance the program.
d. do all of the above.
C
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Producer surplus is the amount a seller receives for a good or service
Indicate whether the statement is true or false
Like the monetarists, new classical economists favor
a. money growth aimed at achieving a nominal GDP target. b. discretionary policy action. c. a money growth rate that stabilizes output. d. a money growth rule that guides monetary policy.
If input prices increase, the supply curve for cheese will shift to the right
a. True b. False Indicate whether the statement is true or false
When regulatory requirements make it costly and complex to open a business,
What will be an ideal response?