If a price is demand determined, then
A. the demand curve must be upward sloping.
B. the demand curve must be vertical.
C. the supply curve must be vertical.
D. the supply curve must be horizontal.
Answer: C
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Everything else held constant, the vertical section of the supply curve of reserves is shortened when the
A) discount rate increases. B) discount rate decreases. C) federal funds rate rises. D) federal funds rate falls.
A regression analysis with ________ explanatory variables is called a ________
A) two or less; limited regression B) exactly two; binomial least squares regression C) one; dependent regression D) two or more; multivariate regression
We cannot predict the effect on the equilibrium quantity, but know that the market clearing price will increase when
A) supply decreases and at the same time demand increases. B) supply increases and demand increases simultaneously. C) supply and demand decreases simultaneously. D) supply and demand increases simultaneously.
Single-payer systems typically apply all of the following practices except one. Which one?
a. Provide a uniform fee schedule for all services. b. Establish global budgets setting caps on spending. c. Create a mechanism to ease pressure on the system when shortages develop, i.e., a safety valve. d. Require government ownership of the medical infrastructure of clinics and hospitals.