You put money into an account. One year later you see that you have 5 percent more dollars and that your money will buy 6 percent more goods
a. The nominal interest rate was 11 percent and the inflation rate was 5 percent.
b. The nominal interest rate was 6 percent and the inflation rate was 5 percent.
c. The nominal interest rate was 5 percent and the inflation rate was -1 percent.
d. None of the above is correct.
C
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If you have a choice between studying and doing another activity, you will devote your time to studying as long as the additional benefit of studying is greater than the additional cost of studying
a. True b. False Indicate whether the statement is true or false
Of the following high-income countries, which has the lowest mortality ratio for cancer?
A) Canada B) Japan C) the United Kingdom D) the United States
When the government bans a good:
A. the cost of breaking the ban needs to be sufficiently low in order to be effective. B. it doesn’t need to change the trade-offs consumers face. C. it will only be effective if it can be easily enforced. D. it should get approval from the community before exacting the ban to be more effective.
Approximately what percentage of U.S. health care spending is financed by public insurance?
A. 17 percent. B. 33 percent. C. 50 percent. D. 83 percent.