Briefly describe some of the demographic trends that are predicted to increase the government's budget deficit
Social Security and Medicare payments will likely rise, in part due to medical advances and greatly increased life expectancies for the elderly. People are having fewer children, which reduces the number of people in the work force. Government expenditures on healthcare will also likely rise, in part because medical advances provide new and better but often more expensive treatment options.
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Other things constant, a decrease in credit card balances would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; not change.
Refer to the diagrams. The price will be _______ and the quantity will be _______ with the industry structure represented by diagram (B) compared to the one represented in (A).
A. higher; higher
B. higher; lower
C. lower; lower
D. lower; higher