The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending.
B. recessionary gaps.
C. expansionary gaps.
D. unemployment.
Answer: B
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Is it possible for sellers to benefit more than consumers from a subsidy to buyers?
A. Producers can never benefit more than buyers from a subsidy to buyers. B. Yes, if the supply curve is relatively more elastic than the demand curve. C. Yes, if the sellers need it more. D. Yes, if the supply curve is relatively less elastic than the demand curve.
When we move along a given supply curve,
a. only price is held constant. b. technology and price are held constant. c. all nonprice determinants of supply are held constant. d. all determinants of quantity supplied are held constant.
Single-payer systems typically apply all of the following practices except one. Which one?
a. Provide a uniform fee schedule for all services. b. Establish global budgets setting caps on spending. c. Create a mechanism to ease pressure on the system when shortages develop, i.e., a safety valve. d. Require government ownership of the medical infrastructure of clinics and hospitals.
Describe China's reform path, including the forces that started China's reform efforts and how they continued through the 1980s and early 1990s
What will be an ideal response?