At any given time, about 95% of the population in the United States lacks health insurance.
A. True
B. False
C. Uncertain
B. False
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The annual percentage rate of change in the price level is the:
A. cost of living. B. inflation rate. C. relative price. D. Fisher effect.
Nominal GDP is GDP in a given year
A) valued in the prices of that year. B) valued in the prices of the base year. C) adjusted for inflation. D) adjusted for anticipated inflation.
As a consumer you believe yourself to act rationally, optimally and self-interestedly. You like ice cream and value a pint at $7 . Usually you buy a pint each week at $4 . This week however, the price jumped to $5 a pint. What would you do?
a. buy the ice cream since the price is still below your maximum willingness to pay b. buy the ice cream since even at the new price it gives you a positive amount of consumer surplus c. not buy the ice-cream since the price is now higher d. both A&B
The wealth-effect notes that a _____ price level increases the real value of households' wealth. The larger real wealth _____ the quantity of goods and services demanded
Fill in the blank(s) with correct word