A game show host who gave up his job as a teacher brags about his salary, saying "the rest is pure gravy." Here, "the rest" refers to
a. opportunity cost
b. implicit cost
c. explicit cost
d. the height of his labor supply curve
e. economic rent
E
Economics
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The Congressional Budget Office estimates that most of the increase in federal spending on Medicare and Medicaid will be due to
A) increases in immigration. B) the aging population. C) declining income levels. D) increases in the cost of providing health care.
Economics
In the long run, imports are paid for by
A) investment. B) exports. C) dollars. D) gold or other universally accepted monies.
Economics