Comment on the statement: “Americans must be the healthiest people on earth because they spend the most on health care and have the best health care system.”
What will be an ideal response?
There is general agreement that medical care in the United States is probably the best in the world. This high rating is largely a consequence of the high expenditures for health care. Nevertheless, having a good quality health care system and spending a great deal for it does not mean that Americans are the healthiest people in the world. In fact, the United States ranks low internationally on many health indicators. The United States ranks eighth in the world in life expectancy, eleventh in maternal mortality, and twenty-second in infant mortality. One problem is that not all Americans have access to the high quality health care in the country.
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What is measured on the vertical axis when we draw a graph of long-run aggregate supply?
A) output of consumer goods B) real GDP C) production of capital goods D) the price level
In the real business cycle model, fluctuations in employment are explained by ________
A) changes in the composition of household assets B) intertemporal substitution as real wages and real interest rates changes C) changes in the marginal propensity to consume D) the impact of a change in price on quantity demand and quantity supplied in goods markets
Expenditures on major need-tested programs from the federal government for medical care amounted to _____ in 2009.
A. $98.1 B. $28.8 C. $46.9 D. $200.0 E. none of these answer options are correct.
How does a fixed exchange rate system work? How can a nation maintain its fixed exchange rate?
What will be an ideal response?