Comparing the American healthcare system to other industrial nations, which of the following statements is FALSE?
A. Americans are admitted to the hospital with less frequency.
B. Infant mortality rates are higher than in 80 percent of the other industrial countries.
C. Childhood-immunization rates in the U.S. are lower.
D. The American life expectancy is above average in comparison to other industrial nations.
D. The American life expectancy is above average in comparison to other industrial nations.
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Potential output in an economy decreases as the supply of labor decreases or the capital stock increases
Indicate whether the statement is true or false
Economic profits disappear quickly when a market is
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) an oligopoly.
Suppose agricultural technology results in increased grain yield for U.S. farmers. The increased supply of grain will drive down grain prices. Because the demand for grain is price elastic, lower prices will result in lower total farm revenue
Indicate whether the statement is true or false
Which statement is true?
A. Joseph Schumpeter said, "risk bearing is no part of the entrepreneurial function." B. Benjamin Franklin said, "It is better to borrow than to lend." C. Aristotle said, "the fair rate of interest is exactly what the market will bear." D. David Ricardo said, "the landlord's return, rent, should be taxed away by the government."