The health care system currently in place will be dramatically changed in the next four years.
A. True
B. False
C. Uncertain
C. Uncertain
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The dollar price of a good relative to the average dollar price of all other goods and services is the good's:
A. nominal price B. equilibrium price C. market price D. real price
Under a constant growth rate of money rule of 5 percent in an economy in which Real GDP grows at an average rate of 5 percent and velocity is constant, the inflation rate is
A) 5 percent. B) -5 percent. C) 25 percent. D) -25 percent. E) constant at zero.
The law of diminishing marginal productivity implies that increasing only one input will:
A. lead to smaller and smaller increases in output. B. lead to larger and larger increases in output. C. not increase output. D. lead to identical increases in output.
Stagflation occurs when the economy experiences:
A. low unemployment and low inflation. B. high unemployment and rapid inflation. C. low unemployment and rapid inflation. D. high unemployment and low inflation.