According to the text, the most serious cost of continued inflation in a democratic society is
A) its tendency to undermine social consensus and feed political conflict.
B) the eventual recession that must inevitably occur as a result of the inflation.
C) the open and disguised unemployment that accompanies it, especially among minorities and teenagers.
D) the slowdown in the rate of economic growth that it causes.
E) the steady rise in the cost of living that it entails.
A
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Consider two people who are currently out of work. Tim is not looking for work because there have been many job cuts where he lives, and he doesn't think it likely that he will find work. Bev is not currently looking for work, but she would like a job, and she has looked for work in the past. The Bureau of Labor Statistics considers
a. both Tim and Bev to be marginally attached workers. b. neither Tim nor Bev to be marginally attached workers. c. only Tim to be a marginally attached worker. d. only Bev to be a marginally attached worker.
Medicare
A. subsidizes the care of middle aged people, which gives them an incentive to consume more medical services. B. subsidizes the care of older people, which gives them an incentive to consume more medical services. C. subsidizes the care of older people, which gives them NO incentive to consume more medical services. D. subsidizes the care of young people, which gives them an incentive to consume less medical services.