If your real income in base year prices is $50,000, then if the CPI is 170, what is your nominal income?
A) $85,000.00 B) $29,411.76 C) $70,000.00 D) $50,000.00 E) $71,428.57
A
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Which of the following effects takes place as a result of automatic stabilization?
A) extra tax revenues are generated in a boom B) tax revenues remain constant during a recession C) leakages increase during a recession, helping to stimulate the economy D) Both A and C are correct.
Answer the following questions true (T) or false (F)
1. Since 1960, out-of-pocket spending on health care has increased sharply as a fraction of all health care spending. 2. By 2017, spending on federal health care programs such as Medicare and Medicaid had grown to 7 percent of GDP. 3. The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States.