Health care costs have been rising due to
A) an aging population.
B) new technologies.
C) third-party financing.
D) All of the above are correct.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
All of the following are critical functions of the government in facilitating the operation of a market economy except
A) enforcing contracts. B) ensuring an equal distribution of income to all citizens. C) protecting private property. D) enforcing property rights.
The share of industry output sold by the top four steel producers in the country are 19%, 15%, 12%, and 9% respectively. The four-firm concentration ratio for the steel industry is
a. 0.19. b. 0.55 c. 0.138 d. 0.65
What is meant by the natural rate of unemployment?