According to the textbook, the percentage of gross domestic product devoted to healthcare between the years 1940 and 2013:
A. increased from 4% to about 6%.
B. increased from 4% to more than 40%.
C. increased from 4% to more than 17%.
D. declined from 4% to less than 2%.
Answer: C
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In the 1850s, the growth rate of real wages in U.S. manufacturing slowed to nearly zero because
a. the demand for manufacturing labor and the supply of manufacturing labor increased by approximately the same amount during this period. b. the demand for manufacturing labor and the supply of manufacturing labor decreased by approximately the same amount during this period. c. the demand for manufacturing labor increased more rapidly than the supply of manufacturing labor during this period. d. the demand for manufacturing labor increased while the supply of manufacturing labor decreased during this period.
According to a study of the "beauty premium," how do the wages of people with average looks compare to those of people considered less attractive than average?
Using our model of consumer choice, is it possible for a consumer to buy less of a particular good when his income rises? Briefly explain
Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
According to Moe's PPC, moving from a 70 to an 80 in economics:
A. has a lower opportunity cost than moving from an 80 to a 90. B. is unattainable. C. has a higher opportunity cost than moving from an 80 to a 90. D. is inefficient.