The short-run aggregate supply curve shows a positive relationship between the price level and real GDP
Indicate whether the statement is true or false
TRUE
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A socially optimal public health policy should expand the proportion of the population vaccinated:
A. until the marginal benefit of an additional vaccination is greater than the marginal cost of an additional vaccination. B. whenever the marginal benefit of an additional vaccination is positive. C. until the marginal benefit of an additional vaccination equals zero. D. until the marginal cost of an additional vaccination equals the marginal benefit of an additional vaccination.
Economic growth in Cuba has been slow. What can best explain the slow growth?
A) lack of incentive mechanisms and economic freedom B) lack of economic resources C) labor productivity is low. D) too much competition within the economy E) a non-democratic form of government
Expected value is
a. (Probability of state A+Value in state A) (Probability of state B+Value in state B) b. (Probability of state AValue in state A)+(Probability of state BValue in state B) c. (Probability of state AValue in state A)-(Probability of state BValue in state B) d. (Probability of state A-Value in state A) (Probability of state B-Value in state B)
Which of the following is most likely to be an inferior good?
A. Fur coats. B. Ocean cruises. C. Used clothing. D. Steak.