Which of the following statements is true?
a. Over time, when demand for health care continues to rise relatively more than supply, the cost of health care falls.
b. Over time, when demand for health care continues to rise relatively more than supply , the cost of health care continues to rise.
c. An increase in the demand for health care is accompanied by an outward shift in the supply curve
d. The price of health care rises either with a fall in demand or an increase in supply.
e. The change in the demand for health care with no change in supply causes the price to fall continuously.
b
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The term "import" refers to:
a. a purchase of goods or services from another country. b. a business transaction between two or more domestic firms. c. a sale of goods or services to another nation. d. a tax on foreign merchandise. e. a trade agreement between two industrial countries.
Exhibit 2-9 Production possibilities curve
Which of the following moves from one point to another in Exhibit 2-9 would represent an increase in economic efficiency?
A. Z to W. B. W to Y. C. W to X. D. X to Y.
An international lender of last resort creates a serious ________ problem because depositors and other creditors of banking institutions expect that they will be protected if a crisis occurs
A) moral hazard B) adverse selection C) public choice D) strategic choice
To reconcile the difference between GNP and national income, the U.S. Department of Commerce (which calculates these things)
a. adds depreciation of capital and nonfactor charges to national income b. adds depreciation of capital to and subtracts indirect business taxes from national income c. subtracts depreciation of capital and indirect business taxes from national income d. subtracts depreciation of capital from and adds indirect business taxes to national income e. subtracts depreciation of capital and indirect business taxes from GDP