Among the reasons that health care expenditures have grown so rapidly in the United States over the last two decades are all of the following EXCEPT
A. third-party financing.
B. an emphasis on wellness programs and preventive medicine.
C. the aging of the U.S. population.
D. expensive new medical technologies.
Answer: B
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The long run for the industry is defined as a period of time long enough for
a. any new firm that desires to enter the industry. b. any old firm that desires to leave the industry. c. all aspects of production to vary and there are no fixed costs. d. All of the above are correct.
If the price of inputs rises and foreign income rises:
a. Price index rises, and real GDP rises. b. Price index rises, and real GDP falls. c. Price index rises, and the change in real GDP is uncertain. d. Price index falls, and real GDP rises. e. Price index falls, and real GDP falls.
Based on the graph showing rational expectations and the AD/AS model, expansionary policies will cause ______.
a. a move to a lower point on the aggregate demand curve
b. a move to a higher point on the aggregate demand curve
c. the aggregate demand curve to shift to the left
d. the aggregate demand curve to shift to the right
A change in quantity supplied of a product is the result of a change in:
A. consumer income. B. the state of production technology. C. the cost of producing the product. D. the price of the product.