The United States spends much more on health care per capita than other nations do but does not get better health outcomes.
Answer the following statement true (T) or false (F)
True
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Refer to the scenario above. In this case, how much should Tom pay for a used iPhone?
A) $80 B) $40 C) $60 D) $0
Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
The existence of a monopoly:
A. creates a gain of total surplus. B. benefits the consumer. C. benefits the monopolist. D. creates more consumer surplus.