A single payer system in the United States would
A. decrease availability of health care services to those who are currently uninsured.
B. likely fail because no other nations have tried it.
C. necessitate a tax increase.
D. likely decrease the waiting time for certain procedures.
Answer: C
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The BIC is a statistic
A) commonly used to test for serial correlation B) only used in cross-sectional analysis C) developed by the Bank of England in its river of blood analysis D) used to help the researcher choose the number of lags in an autoregression
Average revenue for a perfectly competitive firm is equal to
a. price times output b. marginal revenue c. total revenue/marginal revenue d. output/total revenue e. zero
The policy irrelevance proposition implies that
A. unanticipated monetary policy actions are equally effective in stimulating both aggregate demand and aggregate supply. B. anticipated monetary policy actions are ineffective in generating changes in real Gross Domestic Product (GDP). C. anticipated monetary policy actions are effective in stimulating aggregate supply, but they are not effective in stimulating aggregate demand. D. anticipated monetary policy actions are effective in increasing real Gross Domestic Product (GDP), but they do not reduce unemployment.
In the simple Keynesian model,
A. Inflation is a problem whenever demand increases. B. Inflation is a problem whenever demand decreases. C. Inflation becomes a problem only if demand increases at full employment. D. Inflation is never a problem.