Reasons for the rapid rise in demand for health care despite steeply rising prices include the following, except:
A. People regard health care as an entitlement or a right
B. Imperfect information among consumers of health care
C. Third-party insurance payments shield consumers from the true cost of health care
D. High income-elasticity of the demand for health-care services
D. High income-elasticity of the demand for health-care services
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If bank reserves are 200, the public holds 400 in currency, and the desired reserve/deposit ratio is 0.20, the deposits are ________ and the money supply is ________.
A. 400; 800 B. 200; 600 C. 600; 1,000 D. 1,000; 1,400
Which phrase would be most characteristic of pure monopoly?
A. close substitutes B. efficient advertiser C. single seller D. price taker
Which of the following is likely to be included in a country's Gross Domestic Product in a particular year?
A) An unsold inventory of automobiles produced in that year B) The total amount steel used in the production of automobiles in that year C) The total amount of flour used by bakeries to make bread in that year D) An unused stock of goods produced in the previous year
Stagflation can be explained by
a. the IS curve shifting up. b. the IS curve shifting down. c. the LM curve shifting to the right. d. the LM curve shifting to the left. e. none of the above.