By 2015, spending on federal health care programs such as Medicare and Medicaid had grown to 6 percent of GDP.
Indicate whether the statement is true or false
Question 2
The cost of raising beef cattle has risen at the same time as consumer preference for beef has fallen. In the market for beef, this would be represented by the equilibrium price ________ and the equilibrium quantity ________.
A) increasing or decreasing; increasing B) increasing; increasing or decreasing
C) increasing or decreasing; decreasing D) decreasing; increasing or decreasing