Two questions please: A decrease in the price of pork will result in a smaller quantity of pork supplied. a larger quantity of pork supplied. a decrease in the demand for pork. an increase in the supply of pork. Forecasts by the Congressional Budget Office show spending on Social Security, Medicare, and Medicaid rising from 10.1 percent of GDP in 2015 to percent of GDP in 2090, and by 2090 the federal government will be spending, as a fraction of GDP, on these three programs as it currently spends on all programs combined. 16.2 percent; nearly as much 16.2 percent; half as much 19.8 percent; nearly as much 19.8 percent; half as much
Two questions please: A decrease in the price of pork will result in a smaller quantity of pork supplied. a larger quantity of pork supplied. a decrease in the demand for pork. an increase in the supply of pork. Forecasts by the Congressional Budget Office show spending on Social Security, Medicare, and Medicaid rising from 10.1 percent of GDP in 2015 to percent of GDP in 2090, and by 2090 the federal government will be spending, as a fraction of GDP, on these three programs as it currently spends on all programs combined. 16.2 percent; nearly as much 16.2 percent; half as much 19.8 percent; nearly as much 19.8 percent; half as much
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:Two questions please:
A decrease in the price of pork will result in
a smaller quantity of pork supplied.
a larger quantity of pork supplied.
a decrease in the demand for pork.
an increase in the supply of pork.
Forecasts by the Congressional Budget Office
show spending on Social Security, Medicare,
and Medicaid rising from 10.1 percent of GDP in
2015 to
percent of GDP in 2090, and by
2090 the federal government will be spending,
as a fraction of GDP,
on these three
programs as it currently spends on all programs
combined.
16.2 percent; nearly as much
16.2 percent; half as much
19.8 percent; nearly as much
19.8 percent; half as much
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