When we graph total utility, the total utility curve will
A) always be increasing.
B) always be decreasing.
C) be increasing as long as marginal utility is positive.
D) be horizontal if marginal utility is positive.
Answer: C
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Cyclical unemployment is a problem because
a. it reflects lost output b. workers are not compensated have no income support at all while they are unemployed c. it will never reach zero d. cyclically-unemployed individuals do not have the skills needed for available jobs e. we do not know how to reduce it
In both the 1970s and the 1990s, extreme economic events caused unemployment to move in the same direction as inflation.
Answer the following statement true (T) or false (F)
Answer the following questions true (T) or false (F)
1. Health care spending per person is lower in the United States than in most other high-income countries. 2. In the United States, health care spending as a percentage of GDP has declined since 1965. 3. As a percentage of GDP, health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate.
In 2005 the United States had a ___________ savings rate.
Fill in the blank(s) with the appropriate word(s).