Regarding the production of health care, more recent studies suggest that:
A) economies of scale exist up to a hospital size of approximately 500 beds.
B) hospitals of many different sizes can compete effectively with each other on the basis of cost.
C) the LRAC curve exhibits significant diseconomies of scale beginning with a hospital size of approximately 100 beds.
D) the LRAC for hospitals exhibits a very distinct U shape.
B
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All of the following describe trends in U.S. labor markets except:
A. a slowdown in real wage growth since the 1970s. B. substantial growth in real ages during the last century. C. substantial growth in the level of employment in the United States. D. growing wage equality in the United States in recent decades.
The development of countries like South Korea has been supported by all of the following EXCEPT
A) high domestic interest rates. B) high domestic saving rates. C) large endowments of human capital. D) high levels of labor productivity. E) reduced government regulation.
A belief that demand shocks are an important source of business cycle fluctuations implies a preference of ________
A) the new Keynesian model over the traditional Keynesian model B) the real business cycle model over the traditional Keynesian model C) the real business cycle model over the new Keynesian model D) the new Keynesian model over the real business cycle model
When bond prices fall, interest rates rise.
Answer the following statement true (T) or false (F)