In drilling a new oil well in an existing oil field, the fact that output on existing wells is reduced means that:
a. existing wells have negatively sloped MC curves.
b. existing wells and new wells are owned by different people.
c. existing wells and new wells are owned by the same people.
d. there is a discrepancy between private and social marginal costs.
d
Economics
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The Congressional Budget Office estimates that most of the increase in federal spending on Medicare and Medicaid will be due to
A) increases in immigration. B) the aging population. C) declining income levels. D) increases in the cost of providing health care.
Economics
The most significant expansion of Medicaid since its inception occurred in 1997 and is referred to as
a. SCHIP. b. SHIP. c. TANF. d. AFDC.
Economics