Which goes exclusively to the poor?
A. Medicaid
B. Medicare
C. Social Security
D. Unemployment insurance benefits
A. Medicaid
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If Bristol-Myers Squibb discovered a miracle drug that cured some forms of cancer, which theory would apply to the profits it earned?
A. Reward for innovation B. Reward for risk-taking C. Monopoly profits D. All of choices are true.
The Eurozone is an example of a:
A) common market. B) currency area. C) free-trade area. D) customs union.
"Men are disposed, as a rule, and on the average, to increase their consumption as their income increases, but not by as much as the increase in their incomes." Which of the following is consistent with this statement by J.M. Keynes?
a. The slope of the consumption function is positive and less than one. b. The slope of the consumption function is greater than that of the 45-degree line. c. The slope of the consumption function is negative. d. The slope of the consumption function is equal to one.
According to the aggregate supply curve, what happens as the price level increases?
(A) Consumers increase their spending. (B) Profits decrease. (C) Real GDP falls. (D) Firms have more of an incentive to increase output.