When the population increases with no change in labor productivity, employment ________ and potential GDP ________
A) decreases; decreases
B) increases; increases
C) decreases; increases
D) increases; decreases
B
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Glendale Medical Care and Research Center? (GMCRC) offers advanced scientific treatment to the patients suffering from neurological cancer. The treatment plan offered by the hospital is relatively cost effective compared to similar treatments provided by the other medical centers.? However, the hospital management observes that the number of patients who receive neurological cancer treatment at GMCRC each quarter is much lower compared to the other hospitals. Which of the? following, if? true, would explain this? outcome?
A. GMCRC is the only hospital in the neighborhood that provides targeted therapy, in addition to radiation therapy and chemotherapy. B. Recent research on neurological cancer reveals that the incidence of this disease has increased during the last few years. C. GMCRC andother local hospitals tend to choose doctors from both international and national medical schools. D. The bulk of the treatment cost for neurological cancer is borne by the health insurance companies. E. Neurological cancer is not among the most common forms of cancer.
A positive statement is
A) about what ought to be. B) about what is. C) the result of a model's normative assumptions. D) valid only in the context of a model with simple assumptions.
What would best explain why a generally risk-averse person would bet $100 during a night of blackjack in Las Vegas?
A) Risk aversion relates to income choices only, not expenditure choices. B) Risk averse people may gamble under some circumstances. C) The economics of gambling and the economics of income risk are two different things. D) Risk-averse people attach high subjective probabilities to favorable outcomes, even when objective probabilities are known.