When voluntary exchange takes place, neither party usually gains from the exchange

Mid-1960s amendments to the Social Security Act created

a. managed care. b. Medicare and Medicaid. c. major medical insurance. d. Blue Cross and Blue Shield. e. tax exemptions for health insurance as an employee benefit.

An examination of the quintile distribution of before-tax household income data for 1970 and 2008 given in the table above suggests a trend of:

A. A greater equality in the distribution of income over the period

B. A greater inequality in the distribution of income over the period

C. Rising income levels for the upper-income groups

D. Falling income levels for the lower-income groups