Studies in industrially advanced nations indicate that a 3 percent increase in incomes will generate a:
A. 1 percent increase in the amount of health care demanded
B. 1.5 percent increase in the amount of health care demanded
C. 3 percent increase in the amount of health care demanded
D. 6 percent increase in the amount of health care demanded
C. 3 percent increase in the amount of health care demanded
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Government in the United States spends more as a percentage of GDP than in most other industrialized nations.
Answer the following statement true (T) or false (F)
If the government ________ taxes to pay for spending on infrastructure, the result will most likely be a(n) ________ in capital deepening
A) decreases; increase B) increases; increase C) increases; decrease D) eliminates; elimination
If the national debt is owned by domestic citizens:
a. the debt will not have to be repaid. b. future interest payments transfer funds from one group of Americans to another. c. the debt will have to be repaid first to domestic creditors, then to foreign creditors. d. future interest payments will go to pay foreign debt first, then debt owed to American citizens.
If the annual growth rate in Real GDP is 2 percent, then it will take 50 years for the economy to double in size
Indicate whether the statement is true or false