For a given technology, a higher capital stock will decrease labor productivity
a. True
b. False
Indicate whether the statement is true or false
False
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As a result of moral hazard
A) both physicians and hospitals order more procedures. B) physicians and hospital administrators have no incentive to raise costs. C) patients increasingly have to worry about the expense of operations and other medical procedures. D) both physicians and hospitals have a financial interest in trying to keep hospital costs down.
In equilibrium, real GDP is equal to
A. C + I + G + X + S. B. C + I + X - G. C. C + I + G - X. D. C + I + G + X.
Health care costs have tended to rise more rapidly in the United States than in Canada because:
A. state insurance regulators in the United States do not face the budget constraints that national regulators in Canada face. B. people in the United States want more health care than people in Canada. C. private insurance in the United States encourages overconsumption of health care; public insurance in Canada does not. D. Canada has better achieved economies of scale in the production of health care.
In the mid-1980s, velocity "fell off the rails," growing much slower than its historical trend of 3.4 percent. Had the Fed assumed a constant growth rate of 3
4 percent and maintained a constant growth rate of money supply rather than increasing the growth rate of the money supply as it did, A) nominal GDP would have grown more slowly as would real GDP. B) nominal and real GDP would have grown more rapidly. C) nominal GDP would have grown more rapidly faster and GDP would have grown more slowly. D) real GDP would have grown more rapidly faster and nominal GDP would have grown more slowly.