In 2016, Social Security and Medicare payments accounted for almost _____ of federal outlays
a. 7 percent
b. 25 percent
c. 15 percent
d. 38 percent
e. 52 percent
d
Economics
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Changes in the price level will shift the consumption function, since it is an indicator of household wealth and not household income.
Answer the following statement true (T) or false (F)
Economics
You are shown a graph of a monopolist in long-run equilibrium and a graph of a monopolistically competitive firm in short-run equilibrium. How could you tell which is which?
A. In the graph of monopolistic competition, the MR curve could be closer to the demand curve. B. In the graph of monopoly, the MR curve would be closer to the demand curve. C. You probably could not. D. In the graph of monopoly, the MC would slope upward.
Economics