Refer to Scenario 7.7 below to answer the question(s) that follow. SCENARIO 7.7: A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. Refer to Scenario 7.7. The marginal product of the third worker is

Government programs such as Medicare substantially subsidize health care purchases by some consumers in the U.S. economy. Who benefits from these subsidies? How do they affect the price of health care? If you are not a recipient of this program, are you made better or worse off by the subsidy? Explain

If the money supply rises by 8% and the average price level rises by 8%, then the supply and demand for real loanable funds change as follows:

a. Actually, neither real supply nor real demand changes. b. Real supply rises by 8% and real demand remains the same. c. Real demand rises by 8% and real supply remains the same. d. Real demand and supply rise by 8%. e. Real supply rises, falls, or stays the same depending on the relationship between actual and expected inflation.