On average, people in the United States spend a smaller percentage of their income on health care than do people in most other countries
Indicate whether the statement is true or false
FALSE
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Potential GDP refers to the level of
A) real GDP in the short run. B) real GDP in the long run. C) nominal GDP in the long run. D) nominal GDP in the short run.
Which of the following is a positive incentive?
A. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account. B. McDonalds decides to offer a white chocolate mocha. C. A school teacher decides to retire and focus on gardening. D. A business decides to leave the industry.
Refer to the graph shown. The monopolistically competitive firm represented is in:
A. short-run equilibrium because price exceeds average total cost at the profit-maximizing output level. B. both short-run and long-run equilibrium because price equals marginal cost at the profit-maximizing output level. C. long-run equilibrium because economic profits are zero at the profit-maximizing output level. D. both short-run and long-run equilibrium because price exceeds average total cost at the profit-maximizing output level.
If the banking system has a required reserve ratio of 40 percent, then the money multiplier is:
A. 2. B. 2.5. C. 4. D. 8.