Since the 1930s, third-party payments for health care have
A) risen from about 5 to 90 percent of total payments.
B) declined from about 95 to 10 percent of total payments.
C) declined from about 70 to 30 percent of total payments.
D) risen from about 30 to 50 percent of total payments.
Answer: A
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Ex-London School of Economics student Mick Jagger sang, "You can't always get what you want, but if you try sometime, you just might find you can get what you need." Another statement of the basic economic principle expressed in this lyric is that
a. rational decisions are not always possible. b. you can allocate your resources to what gives you the highest value. c. you can create the supply to meet your own demand. d. you can maximize social welfare by making optimal decisions.
According to the rational expectationists
A. even if there were a recession or substantial inflation, the best government policy would be to do nothing. B. the dramatic oil price shocks of 1973 and 1979 created declines in aggregate supply, lowering the natural level of real GDP. C. the prime economic mover is aggregate supply, not aggregate demand. D. All of the choices/statements are true.
If incomes rose proportionately with prices, then in the absence of taxes
a) money would cease to be a veil b) real GDP would increase c) everyone would be worse off d) prices would have no effect on output or well-being e) resources would be over allocated to the present at the expense of future generations
Which of the following is directly included in the calculation of GDP?
A. The final sale of a brand new Cadillac. B. The appreciation in value of shares of stock. C. The sales of land to a builder. D. The sales of sand to a glassmaker.