In what ways does the United States have the best health care system in the world?
What will be an ideal response?
There have been a number of advances in health care in the United States in the last 40 years. Life expectancy has increased by 7 years since 1970. U.S. physicians and hospitals use the best medical equipment and technology. Over half the world’s research funding is done in the United States. Together this has decreased the number of diseases and improved the quality of treatment. For example, diseases like polio have been eliminated, body scanners have become successful diagnostic tools, and procedures such as angioplasty, organ transplants and prosthetic joint replacements have become more common and more effective. All of these factors contribute to the advanced nature of the U.S. health care system.
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Consumer’s surplus
A. is the gap between total willingness to pay and the total market value of a good. B. guarantees that the market value of a good in money is equal to the total economic value of the good. C. is always negative because of diminishing marginal utility. D. is the total area under a consumer’s demand curve.
If the adult population of a country is 200 million and its labor force is 140 million, then its labor-force participation rate is 60%
a. True b. False Indicate whether the statement is true or false
The unemployment rate that is consistent with full employment is known as __________________.
Fill in the blank(s) with the appropriate word(s).
Contractionary fiscal policy would be most effective in decreasing inflation when
A. the marginal propensity to consume is low. B. investment spending is insensitive to interest rates. C. the economy has a high marginal tax rate. D. investment spending is sensitive to interest rates.