Medicare costs are high, and rising at rapid rates, because
A. the elderly have been shown to enjoy hospital food.
B. medical technology is advancing and raising costs.
C. medical technology is advancing and raising costs, while the elderly pay only a quarter of the true costs and are therefore less cost conscious.
D. elderly pay only a quarter of the true costs, and are therefore, less cost conscious.
Answer: C
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Money costs and opportunity costs are concepts that are
A. not related in any meaningful way. B. used by tax accountants. C. related through the relative prices of goods and services. D. used by economists to learn the most efficient level of output.
The federal funds rate is
A. the interest rate on bonds issued by the federal government. B. the interest rate paid on reserves held with the Fed. C. the interest rate at which banks can borrow excess reserves from other banks. D. none of these.