Since 1960, out-of-pocket spending on health care has increased sharply as a fraction of all health care spending
Indicate whether the statement is true or false
FALSE
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The rate of time preference is positive
a. only when interest rates are positive b. because interest rates are positive c. only when people save d. because people save e. because people prefer goods now to the same goods later
The marginal seller is the seller who
a. cannot compete with the other sellers in the market. b. would leave the market first if the price were any lower. c. can produce at the lowest cost. d. has the largest producer surplus.
The sacrifice ratio is the
a. sum of the inflation and unemployment rates. b. inflation rate divided by the unemployment rate. c. number of percentage points annual output falls for each percentage point reduction in inflation. d. number of percentage points unemployment rises for each percentage point reduction in inflation.
A leftward shift of the market demand curve for HDTVs, ceteris paribus, causes equilibrium price to
A. Decrease and quantity to increase. B. Increase and quantity to increase. C. Increase and quantity to decrease. D. Decrease and quantity to decrease.