A market system is characterized by the private ownership of resources and the use of markets and prices to coordinate and direct economic activity.
Answer the following statement true (T) or false (F)
True
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In 2015, health care's share of gross domestic product in the United States
A) had declined to only 6.5 percent. B) had returned to its 1995 level. C) was almost than three times as high as it was in 1965. D) reached a level of 75 percent.
Which of the following statements about health care is true?
a. The demand for health care is inversely related to price b. The demand for health care is positively related to price. c. Healthcare is an inferior good. d. Health care and health insurance is only provided by the government in the U.S. e. The supply of health care is inversely related to price.
Which of the following has been an effect of globalization and a large trade deficit?
a. Increased wages in the tradable sector. b. Increased employment in the tradable sector. c. Decreased employment in the tradable sector. d. Increased wages in the immigrant sector.
Ongoing government budget deficits complicate the Fed's monetary policy because ________. The Fed's monetary policy complicates Congress's deficit cutting because if the Fed ________.
Fill in the blank(s) with the appropriate word(s).