According to this Application, in the year 2075, the portion of GDP devoted to spending on Social Security, Medicare and Medicaid is expected to be
A) significantly less than the share of GDP devoted to these programs today.
B) roughly equal to the total amount of GDP today.
C) greater than the consumption spending component's share of GDP in 2075.
D) larger than total federal spending's share of GDP today.
D
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The 2008 financial crisis was caused by the decline of real estate values as well as several other factors
a. True b. False Indicate whether the statement is true or false
A firm's minimum efficient scale is defined as
a. the output level at which LRATC first reaches its minimum level b. any output level at which LRATC is minimized c. the highest output level at which LRATC takes on its minimum value d. the output level at which the firm charges its highest price e. the lowest output level at which the firm can charge a positive price