Which of the following is NOT a consequence of the introduction of the Medicare program?
A) an increased quantity of medical services demanded
B) an increased ability for the elderly to obtain medical services
C) an increased ability for the poor to obtain medical services
D) a reduced demand for medical services
Answer: D
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The amount of money that a bank must keep on hand per dollar of deposits is called
A) the discount rate. B) the quick ratio. C) the multiplier. D) the reserve requirement.
Maggie is a potter who likes to dig her own clay for producing pots, cups and other ceramic items. She is aware of two places where she can obtain the right clay for her work. The first field is quite close, just at the edge of town. The second field is
15 miles away and (since there are no access roads) requires a half-day of travel just to get there. Compare the opportunity cost of producing pots using clay from each of these fields.