In the United States, the emergence of the third-party payment system has:
A. led health care costs to increase over time.
B. had almost no impact on health care costs.
C. led people to consume less than the socially optimal level of health care.
D. led health care costs to decrease over time.
Answer: A
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Monetary policy refers to the actions taken by the Treasury Department to set the level of the money supply
Indicate whether the statement is true or false
YearFootballs(in millions)P FootballsBooks(in millions)P BooksNominal GDPReal GDP2000 Base Yr55464949200165465454200276577765200347788462Assume the table has recorded the total output and prices of the only two goods produced. Looking at the changes in real GDP and nominal GDP from 2000 to 2001, we can conclude that because:
A. nominal GDP rose more than real GDP, both prices and output must have increased. B. real GDP rose more than nominal GDP, output must have increased more than prices. C. real and nominal GDP increased at the same rate, there was no change in output, only prices. D. real and nominal GDP increased at the same rate, there was no change in prices, only output.
Why has the chairman of the Fed participated in meetings with top economic advisers of the president?
a. to show a united front to other nations b. to alleviate coordination problems between the Fed and fiscal policy makers c. to pressure banks into adopting the Fed’s monetary policies d. to gather more popular support for both monetary and fiscal policies
Figure 3.5 illustrates the supply of tacos. A decrease in the supply of tacos is represented by a movement from:
A. point a to point b. B. point c to point b. C. S2 to S1. D. S0 to S1.