In 2014, the U.S. spend approximately ________ of GDP on health care.
A. 1% (1/100th)
B. 16% (1/6th)
C. 33% (1/3rd)
D. 25% (1/4th)
Answer: B
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Which of the following statements is true?
A) Defending an overvalued currency is easier than defending an undervalued currency. B) Defending an undervalued currency is easier in the short run than in the long run. C) The nominal exchange rate is the ratio of the same basket of goods in two countries. D) The real exchange rate is calculated by dividing the nominal exchange rate by the inflation rate.
A ________ is a provision that restricts or specifies certain activities that a borrower can engage in
A) residual claimant B) risk hedge C) restrictive barrier D) restrictive covenant
Problems associated with thin markets provide incentives for:
A. buyers to seek information about identifying high-quality items. B. sellers to prove that the items they are selling are of high quality. C. buyers and sellers to agree upon a higher price than would hold in equilibrium. D. both buyers to seek information about identifying high-quality items and sellers to prove that the items they are selling are of high quality.
The idea that a society as wealthy as the United States has a moral obligation to provide its members with the necessities of life is the argument most often used
A. in favor of income redistribution. B. against income redistribution. C. in favor of an equal distribution of income. D. in favor of abolishing the minimum wage.