For the past 40 years, growth in health care spending has outpaced growth in the rest of the economy by _____ percentage point(s) annually.
a. 2-3
b. over 6
c. 4-5
d. less than one
a. 2-3
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If the price of gasoline rises sharply and the demand for sports utility vehicles falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.
Which of the following statements is TRUE?
a. Average cost (AC) is irrelevant to extent decisions b. Average cost determines how much you produce c. Marginal cost (MC) is irrelevant to extent decisions d. All of the above
An increase in income will tend to cause which of the following?
A) an increase in the monetary base (H) B) a reduction in H C) an increase in the interest rate D) a reduction in the money multiplier E) none of the above
What can low-income countries do in order to increase the amount of loanable funds available to firms for investment projects such as new factories or improved technology?
A. provide savings incentives B. print more money C. increase the interest rate on borrowing D. all of the above