The demand for health care is perfectly elastic
a. True
b. False
Indicate whether the statement is true or false
False
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According to some New Keynesian theories, one possible rationale for active policy making is
A) growing competition in U.S. product markets. B) flexible prices. C) sluggish adjustment of the price level in response to changes in aggregate demand D) people are not rational and so do not react to incentives.
A hypothesis is: a. a normative economic statement
b. a testable proposition. c. a statement that cannot be evaluated using real-world data. d. a model with no connection to the real world.
There is an inverse relationship between the price of an existing bond and its
A. Current yield. B. Par value. C. Liquidity yield. D. Risk yield.
Entry into a perfectly competitive industry to occurs whenever:
A. accounting profit is equal to zero. B. economic profit is equal to zero. C. accounting profit is greater than zero. D. economic profit is greater than zero.