Approximately how much of aggregate national income in the United States is spent on health care today?

A) 3 percent
B) 45 percent
C) 17 percent
D) 34 percent


Answer: C

Economics

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A government strong enough to protect individual rights is also strong enough to violate them

a. True b. False

Economics

According to the table shown, the firm's marginal revenue:

This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.

A. is constant.
B. increases as output increases.
C. decreases as output increases.
D. increases until the 3rd unit, then decreases.

Economics

Assume there are two people in a society. Person A is willing to pay $140 to have one unit of a public good produced and Person B is willing to pay $160 to have one unit of a public good produced and $140 to have two units produced. As a result, society would be willing to pay a price of ________ of this public good.

A. $300 for 1 unit B. $200 for 1 unit C. $200 for 3 units D. $160 for 5 units

Economics

Real GDP =________ where the price level is the ________

A) Nominal GDP × Price level; GDP deflator B) Nominal GDP ÷ Price level; GDP deflator C) Nominal GDP ÷ Price level; CPI D) Nominal GDP × Price level; CPI E) none of the above

Economics