The impact of technological change in the health-care area has been to
A. increase longevity but decrease quality of life.
B. decrease the monetary costs of health care while decreasing the quality of health care.
C. increase both the quality of health care and the monetary costs of health care.
D. increase the monetary costs of health care and decrease the quality of health care.
Answer: C
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Following the 2007-2009 financial crisis, many people feared that Greece might leave the euro and resume using the drachma. If that happened, the drachma might be worth less than the euro
When using fiat money like the drachma, the key to acceptance is that households and firms have confidence that if they accept drachma in exchange for goods and services, the drachma will not lose much value during the time they hold them. If sellers were not willing to accept the drachma in exchange for goods and services, the drachma would not serve as A) a medium of exchange. B) fiat money. C) legal tender. D) a unit of account.
The change in the interest rate brought on by a change in Real GDP is referred to as the __________ effect
A) liquidity B) expectations C) income D) nominal
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
If technological advancements reduce the cost of pollution abatement, all else equal:
A. the price of a pollution permit will fall. B. the price of a pollution permit will increase. C. the government will be forced to issue more permits. D. the government will be forced to issue fewer permits.