What are the two major problems facing the health care system of the United States?
A. The inadequate supply of physicians and the need to build more hospitals
B. Increasing the demand for and supply of health care
C. The rapid rate of technological change and an unhealthy population
D. The need to control costs and make health care accessible
D. The need to control costs and make health care accessible
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Relative to before the price ceiling, how much surplus do producers lose because of the ceiling?
The following questions refer to the accompanying diagram which shows the effects of a price ceiling. The initial price and quantity are P0 and Q0, respectively, and the price ceiling is imposed at the price P1. Assume that none of the potential deadweight loss can be avoided.
a. Area D + E + H
b. Area D + E
c. Area D + E + F
d. Area H.
The FE line
A) is horizontal. B) is vertical. C) slopes downward. D) slopes upward.
A nation running a persistent balance of payments surplus while part of a fixed exchange rate system would be required to __________ international reserves in an effort to prevent its currency from __________
A) amass; appreciating B) amass; depreciating C) pay out; appreciating D) pay out; depreciating
A key element of real business cycle theory is that
a. labor supply is not responsive to changes in real wages. b. labor supply is highly elastic. c. as the wage increases, workers are richer and work less. d. none of the above.