Gordon states that ________ caused the substantial increase in the standard of living in South Korea relative to that of the Philippines during the period 1960-2010
A) lower unemployment rates
B) higher inflation rates
C) higher rate of growth in per capita real GDP.
D) All of the above
C
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In order to efficiently allocate goods and services, we have to compare
A) total cost to total benefit. B) total cost to price. C) marginal benefit to price. D) marginal cost to marginal benefit. E) price to marginal cost.
If a government wishes to reduce uncertainty with respect to its exchange rate, it can
a. establish fixed exchange rates b. establish floating exchange rates c. equilibrium exchange rates d. establish uniform exchange rates e. practice arbitrage
The slope of an indifference curve at all points reflects
a. the terms by which the consumer can trade off goods in the market. b. the relative prices of the two goods. c. the willingness of the consumer to trade one good for another. d. consumer income relative to the price of a good. e. the relative price ratio of the two goods.
Which one of the following provisions included in the Affordable Care Act (ACA) was responsible for the largest number of newly insured?
a. Insurance regulation that required coverage for individuals with pre-existing conditions b. Creation of the health insurance exchanges (later called marketplaces) c. Individual mandate d. Employer mandate e. Expansion of Medicaid