The benefits paid by the largest pension program in the United States are:
a. not adjusted for changes in the price level

Consider the market for camera film. If more people start using digital cameras, which do not require film,

A) the supply curve of film shifts rightward. B) the demand curve for film shifts leftward. C) there is a movement up along the demand curve for film. D) there is a movement down along the demand curve for film. E) neither the demand curve nor the supply curve for film shifts; instead there is a movement along both.

Evaluate the accuracy of the following statement: Since health care is a necessity, the demand for health care will be perfectly inelastic