A U.S. tariff on steel would increase the domestic quantity of steel demanded.
Answer the following statement true (T) or false (F)
False
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In the United States, the bulk of health care spending is paid by health insurance companies. Such a system is also called a ________ where consumers of health care pay a nominal fee and the rest is paid by the health insurance provider
A) socialized medicine system B) single-payer system C) universal health care system D) third-party payer system
According to the Lucas critique, if past increases in the short-term interest rate have always been temporary, then
A) the term-structure relationship using past data will then show only a weak effect of changes in the short-term interest rate on the long-term rate. B) the term-structure relationship using past data will show no effect of changes in the short-term interest rate on the long-term rate. C) one cannot predict the term-structure relationship as it depends on expectations. D) the term-structure relationship using past data will nevertheless show a strong effect of changes in the short-term interest rate on the long-term rate because of a change in the way expectations are formed.
A "flat tax" is another term for __________ tax
A) a progressive B) a proportional C) a regressive D) the inflation
Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.
A. attainable; unattainable B. inefficient; efficient C. efficient; inefficient D. unattainable; attainable