When economists say that health care services are over-consumed, they mean that
Ans: some resources now used in the health care industry could produce alternative goods and services that society values more highly
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One of the most important reasons for the economic growth of the U.S. in the antebellum period was market unification and falling costs of trade. Samuel F. B. Morse contributed significantly to these trends. Morse is most recognized for:
a. Inventing the telegraph. b. Inventing the steam engine. c. Developing the technology to power railroad engines. d. Overseeing the building of the Erie Canal.
Unbalanced oligopolies are not stable
Indicate whether the statement is true or false
Give an example that shows how price level can shift the money demand curve and another that shows how RGDP can shift this curve.
What will be an ideal response?
In an attempt to bring lenders and borrowers together following the financial crisis of 2008, the Federal Reserve made a large amount of new funds available to financial markets. The Fed expected this to increase the money supply and the total amount of
lending because of the multiplier effect, in which a given amount of new reserves results in a multiple increase in A) stockholders' equity. B) bank deposits. C) long-term debt. D) required reserves.