A 2.9 percent payroll tax (1.45 percent levied on both the employee and the employer) imposed on current workers is used to finance the
a. Medicaid program that provides healthcare for the poor.
b. hospitalization costs of Medicare beneficiaries.
c. cost of physician services supplied to the elderly.
d. healthcare costs of both the elderly and the poor.
B
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What happens to the demand for Xbox games if the price of an Xbox falls?
A) The demand for Xboxes decreases because the price of a substitute falls. B) The demand for Xboxes increases because the price of a complement falls. C) The demand for Xboxes decreases because the price of a complement falls. D) The demand for Xboxes remains unchanged.
From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely
A) decrease tax rates. B) decrease government spending. C) decrease the required reserve ratio. D) decrease oil prices.