Variations in the standard of living across countries is due almost entirely to differences in each nation's total output of goods and services
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following helps in reducing the problem of adverse selection in health insurance markets?
A) Insurance mandates B) High premiums C) High rates of taxation D) Insurance coverage
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is full of customers c. shopping when the car lot has few cars left unsold d. shopping toward the end of the month
Goods and services provided by state and local governments are:
A. included in GDP at cost. B. excluded from GDP because they are not sold in markets. C. included in GDP at market prices. D. excluded from GDP because they are publicly provided.
Suppose you deposit $2,000 into Bank of America and that the required reserve ratio is 10 percent. How does this affect the bank's balance sheet?
A) Reserves rise by $200. B) Required reserves rise by $2,000. C) Deposits rise by $1,000. D) Excess reserves rise by $1,800.