If a U.S. importer can purchase 10,000 pounds for $20,000, the rate of exchange is

$1 = 2 pounds in the United States.

$2 = 1 pound in the United States.

$1 = 2 pounds in Great Britain.

$.5 = 1 pound in Great Britain.

Because only a fixed percentage of the population can participate in Medicaid at any time.

Because many poor people earn enough that they do not qualify for Medicaid.

Because nonincome requirements screen many poor people from the program.

Because only native-born Americans are eligible for the program.

resource market.

bond market.

stock market.

foreign exchange market.

compares worker productivity in the farm and nonfarm sectors.

is the ratio of per capita farm income to per capita nonfarm income.

is the ratio of prices received by farmers to prices paid by farmers.

is the ratio of prices paid by farmers to prices received by farmers.

lower wage rate and hire fewer workers than will a purely competitive employer.

higher wage rate but hire fewer workers than will a purely competitive employer.

lower wage rate but hire a larger number of workers than will a purely competitive employer.

higher wage rate and hire a larger number of workers than will a purely competitive employer.

it is more cost-efficient to prevent illnesses than to cure them.

physicians may require unnecessary testing as a means of protecting themselves against malpractice suits.

doctors know much more about diagnosing and treating illnesses than do health care consumers.

physicians do not advertise their services or fees.

labor costs and product prices are not related.

there is no discernible relationship between wage rates and labor productivity.

wage rates and labor productivity are directly related.

wage rates and labor productivity are inversely related.

a situation in which a union forces an employer to hire union workers in preference to nonunion workers.

the requirement that unneeded workers be retained on a job.

the refusal by one union to handle or transport goods produced by workers in another union.

disputes among two or more unions as to which will perform certain jobs.

health care suppliers may reduce the supply of health care.

health care suppliers may increase the demand for health care.

collusion between health care suppliers and purchasers may accelerate the rise in costs.

resources may be underallocated to the health care industry.

Temporary Assistance for Needy Households; unemployment compensation

Supplemental Security Income; unemployment compensation

Social Security; food stamps

Medicaid; Medicare

increases saving, reduces total spending, and increases total output.

decreases saving, increases total spending, and decreases total output.

increases investment, increases total spending, and increases total output.

decreases investment, decreases total spending, and increases total output.