Stagflation is defined as a period when real GDP ________ and the price level ________
A) is constant; rises rapidly
B) decreases; increases
C) increases; increases
D) decreases; decreases
E) increases; decreases
B
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The fact that you may not know who your congressional representative is represents
A) rational ignorance on your part. B) the rival nature of information. C) inefficient oversupply of public servants. D) the use of the median voter theorem.
As distinct from Medicare, Medicaid is a
a. federally funded, state-administered program that pays medical and hospital costs for welfare recipients and other low-income people b. federally funded and federally operated program that pays medical and hospital costs for welfare recipients and other low-income people c. state-funded and state-operated program that pays medical and hospital costs for welfare recipients and other low-income people d. federally funded and federally operated program that pays medical and hospital cost for elderly (over 65) welfare recipients e. state-funded program which pays the medical and hospital costs for elderly (over 65) welfare recipients