Automatic stabilizers are changes in ________ that occur automatically as economic activity changes
A) taxes and transfer payments B) the money supply
C) unemployment D) inflation
A
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Among all assets, only money can be a
A) unit of account. B) store of value. C) medium of exchange. D) a way of amassing wealth.
Among the reasons that health care expenditures have grown so rapidly in the United States over the last two decades are all of the following EXCEPT
A) an emphasis on wellness programs and preventive medicine. B) the aging of the U.S. population. C) expensive new medical technologies. D) third-party financing.
In competitive markets, negative economic profits are eliminated by entry to the industry
a. True b. False Indicate whether the statement is true or false
In the short run, if prices were above equilibrium,
a. excess aggregate demand for goods and services would place downward pressure on prices. b. excess aggregate supply of goods and services would place upward pressure on prices. c. excess aggregate demand for goods and services would place upward pressure on prices. d. excess aggregate supply of goods and services would place downward pressure on prices.