Recall the Application about incentives to immunize children in developing countries to answer the following question(s). According to this Application, why did parents not complete the sequence of vaccines for their children?
A. because the costs of completing vaccine sequences were high in the short run
B. because the costs of completing vaccine sequences were high in the long run
C. because the benefits of completing vaccine sequences were low in the long run
D. because the pain to the children of completing vaccine sequences were high
Answer: A
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Blu-ray disc players, iPhones, and hybrid cars are generally considered to be ________ goods
A) service B) nondurable C) durable D) intermediate
Given that the velocity of money can be unstable in the short run, is this reason enough to dismiss money growth as a policy target? Explain.
What will be an ideal response?
From October 1997 to January 1998, the economy of South Korea was in turmoil. One of the problems was:
A. the value of the U.S. $ compared to the Korean won fell by more than half. B. the currency of South Korea appreciated considerably making it very difficult for Korean exporters to sell goods abroa C. U.S. goods became very cheap to Koreans making it difficult for Korean manufacturers to compete with imports. D. the value of the won fell by more than half compared to the U.S. dollar, making U.S. goods very expensive to Koreans and Korean goods relatively inexpensive for U.S. residents.
When aggregate expenditures are equal to aggregate production, the economy is experiencing
A. an inflationary GDP gap. B. a budget deficit. C. a trade deficit. D. macroeconomic equilibrium.