The impact of technological change in the health care area has been to
A) reduce the quality of health care while raising the costs.
B) reduce the cost of health care.
C) increase the quality of health care while decreasing the costs.
D) increase both the quality of health care and the costs of health care.
D
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Refer to Figure 15.2. The economy is at full employment and the unemployment rate is at the natural rate at point
A) a. B) b. C) c D) d.
When the price level increases, total planned real expenditures on goods and services falls. All of the following are responsible EXCEPT
A) the interest rate effect. B) the real-balance effect. C) the substitution effect. D) the open economy effect.
Because ________ in the government budget deficit increase the real interest rate, budget deficits can ________ firm investment
A) decreases; increase B) increases; decrease C) decreases; decrease D) increases; increase
Concentration of industries can lead to external economies for all of the following reasons EXCEPT
A) concentrated industries will not be competitive. B) concentrated industries will attract a network of input suppliers. C) concentrated industries will attract a deep pool of skilled labor. D) concentrated industries will experience knowledge spillovers.