Answer the following statements true (T) or false (F)
1. The recently enacted health-care reform package (or the Patient Protection and Affordable Care Act) focuses solely on controlling health care costs.
2. Medicare is the nationwide Federal health care program available to Social Security beneficiaries and the disabled.
3. Health care expenditures as a percentage of GDP are lower in the United States than in Germany, France, or Canada.
4. In recent decades, health care expenditures in the U.S. have been rising in absolute terms, but falling as a percentage of GDP.
5. Rising health care costs have contributed to slower growth in real wages of workers.
1. F
2. T
3. F
4. F
5. T
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The Fed influences the interest rate by using which of the following tools? i. open market operations ii. taxes on bank accounts iii. changes in required reserve ratios
A) i only B) ii only C) iii only D) Both i and iii E) i, ii and iii
Fiscal policy refers to a government's choices over its
A) expenditures, taxes, transfers, and borrowing. B) expenditures, taxes, issuance of money, and borrowing. C) expenditures, foreign affairs, issuance of money, and borrowing. D) issuance of money, taxes, environmental regulations, and foreign affairs.