By the year 2015, health care spending on Medicare, Medicaid, and other U.S. government programs as a percentage of GDP had reached a level of

A) 2.2 percent. B) 6 percent. C) 17.5 percent. D) 21.5 percent.


B

Economics

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If the United States' unemployment rate is 10 percent and the capacity utilization rate is 70 percent, the economy is in the midst of a ____________.

Fill in the blank(s) with the appropriate word(s).

Economics

According to the Keynesian model, which of the following policies would be most appropriate during a period of rapid inflation?

a. a tax cut b. a budget deficit c. a budget surplus d. an increase in the money supply

Economics

Which of the following statements about the so-called "hedonic treadmill" is not true?

A. It is a consequence of the fact that our brains are wired to notice changes rather than states B. An increase in consumption level will give a permanent increase in happiness C. It is the reason why people across a wide spectrum of incomes are found to be equally happy D. A one-shot increase in income will, in the long run, not affect people's sense of satisfaction

Economics

All other things equal, increased concern for medical ethics will:

A. Increase the demand for health care B. Decrease the demand for health care C. Increase the supply of health care D. Decrease the supply of health care

Economics