Of the following OECD countries, which spends the most on health care when measured as a percentage of GDP?
A) the United Kingdom
B) Japan
C) Canada
D) the United States
D
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You are given the following market data for Venus automobiles in Saturnia
Demand: P = 35,000 - 0.5Q Supply: P = 8,000 + 0.25Q where P = Price and Q = Quantity. a. Calculate the equilibrium price and quantity. b. Calculate the consumer surplus in this market. c. Calculate the producer surplus in this market.
As the price level rises, the interest rate
a. falls, so the supply of dollars in the market for foreign currency exchange shifts left. b. falls, so the supply of dollars in the market for foreign currency exchange shifts right. c. rises, so the supply of dollars in the market for foreign currency exchange shifts left. d. rises, so the supply of dollars in the market for foreign currency exchange shifts right.
When the absolute PPP holds, the real exchange rate is always equal to
A) 1 B) the nominal exchange rate C) relative prices across contries D) 1/nominal exchange rate
Selection bias is a problem when trying to estimate the return to education in a standard human capital model. In this context, what does selection bias refer to?
A. Colleges select who they are willing to accept. B. The data sample is nonrandom. C. The wage-schooling locus does not have a constant slope. D. The wage-schooling locus is estimated to have a negative slope. E. Workers self-select education levels and jobs based on their abilities and preferences.