Using public policy to promote health can:
A. hurt a country's chance of reaching high growth.
B. contribute to growth.
C. discourage citizens from taking care of themselves.
D. take away resources from those that promote growth.
Answer: B
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Suppose that production for good X is characterized by the following production function, Q = K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $25 and the per-unit wage, w, is $15, then the average fixed cost of using 81 units of capital and 9 units of labor is:
A. $75. B. $80. C. $5. D. There is insufficient information to determine the average fixed costs.
Which of the following statements is CORRECT?
A) Compared to stocks, bonds have a higher return. B) Compared to stocks, bond returns have a higher standard deviation. C) Compared to bonds, stock returns have a lower standard deviation. D) Compared to bonds, stock returns have a higher standard deviation.
In the Keynesian model, suppose the Fed wants to keep output unchanged. If the IS curve shifts to the left, and the Fed acts to keep output unchanged, then
A) taxes will increase. B) the money supply will decline. C) the real interest rate will decrease. D) taxes will decrease.
If the Fed unexpectedly increases the money supply, real GDP
a. increases because the resulting increase in the interest rate leads to a decrease in investment. b. increases because the resulting decrease in the interest rate leads to an increase in investment. c. decreases because the resulting increase in the interest rate leads to a decrease in investment. d. decreases because the resulting increase in the interest rate leads to an increase in investment. e. decreases because the resulting decrease in the interest rate leads to an increase in investment.