Employer provided health care limits the moral hazard problem to a large degree
a. True b. False
b
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Gross Domestic Product in 2017 is more than five times larger than it was in 1960 but it is important to note that
A. none of the growth represented additional output of goods and services. B. this measurement of output fails to account for any of the effects of inflation. C. the population also grew substantially over the same time period. D. available graphs of output are unable to display such growth.
A line is tangent to a curve if it
a. crosses the curve at one point b. touches the curve at one point, without crossing it c. crosses the curve at a minimum of two points d. never touches the curve e. forms a right triangle with the curve
If you were told that the exchange rate was 1.5 U.S. dollars per 1 Canadian dollar (CDN), that would mean that Canadians would have to spend _________ to buy a $12 watch in New York City
a. $18 CDN b. $15 CDN c. $1.5 CDN d. $12 CDN e. $8 CDN
If saving is greater than intended investment, the economy is
a. in equilibrium, and there is no change in business inventories b. not in equilibrium, and business inventories will decrease c. in equilibrium, and actual investment is equal to intended investment d. not in equilibrium, and business inventories will increase e. not in equilibrium, and the level of income will rise