Suppose the cost of medical care rose 200 percent from 1990 to 2010, and average prices for the economy rose 150 percent. Relative to others, people who purchased medical care experienced a:
A. Lower real income as a result of the price effect.
B. Higher real income as a result of the price effect.
C. Lower real income as a result of the wealth effect.
D. Higher real income as a result of the wealth effect.
A. Lower real income as a result of the price effect.
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Use the following graph to answer the next question. 
If the industry were served by a pure monopoly, the profit-maximizing price and quantity of output would be ________.
A. P1, Q1 B. P1, Q3 C. P3, Q1 D. P2, Q2
Under Obamacare, residents who do not have health insurance that meets certain basic requirements are subject to a tax penalty
Indicate whether the statement is true or false
Suppose that real GDP for 2015 was $10,000 billion and real GDP for 2016 was $11,000 billion. What is the rate of growth of real GDP between 2015 and 2016?
A) 1% B) 2% C) 5% D) 10%
A trading block that includes the United States, Mexico, and Canada was established by the
a. Maastricht Agreement. b. General Agreement on Tariffs and Trade. c. North American Free Trade Agreement. d. Organization of American States.