In the past 50 years, the economy of the United States grew, causing
A. a lower standard of living after adjusting for inflation.
B. a higher standard of living for most citizens.
C. a stagnant standard of living after adjusting for inflation.
D. a higher standard of living for the employed.
Answer: B
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A. positive saving; capital gains B. negative saving (borrowing); capital gains C. negative saving (borrowing); capital losses D. negative saving (borrowing); crowding out
Researchers estimate QALYs in a number of different ways. One popular approach is called
a. the probability approach b. the QoL approach c. the standard gamble d. the standard measure of well-being e. the utility of life approach
Increases in the marginal propensity to consume (MPC), other things constant, _____
a. increase the value of the multiplier b. decrease the value of the multiplier c. increase the marginal propensity to save d. shift the aggregate expenditure curve downward e. cause a downward movement along the aggregate expenditure curve
Discounting is the process of
a. cutting prices to get rid of surplus stocks. b. finding the present value of future dollars. c. finding the future value of present dollars. d. giving special concessions to special customers.