Health care makes up ________ of the U.S. economy
A) about 2 percent B) roughly 8 percent
C) more than one-sixth D) almost two-thirds
C
You might also like to view...
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Knowledge about the price elasticity of demand is especially useful to managers because it allows them to predict how a change in price would affect a firm's total revenues
Indicate whether the statement is true or false
If you have $1,000 and the Gross Domestic Product (GDP) deflator increases from 100 to 120, then
A) the $1,000 will buy 20 percent less of the goods and services produced by society. B) the $1,000 will buy 20 percent more of the goods and services produced by society. C) the value of the $1,000 increases. D) you will be able to buy fewer goods, but the real value of those goods will increase.
What are the characteristics of a perfectly competitive industry?