What phrase best describes medical care spending in the United States in 2015?
a. The total spending of more than $2 trillion represents 16 percent of GDP and almost $7,500 per person.
b. The total spending of more than $3 trillion represents over 17 percent of GDP and approximately $10,000 per person.
c. Total spending is rising at double-digit rates and spending is soaring to approximately $8,000 per person.
d. Total spending is under control and represents a shrinking percentage of GDP.
e. The total spending of $1.5 trillion represents 13.6 percent of GDP and almost $5,000 per person.
b. The total spending of more than $3 trillion represents over 17 percent of GDP and approximately $10,000 per person
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Last year, the unemployment rate was 4 percent and the inflation rate was 3 percent. If the natural rate of unemployment is 3 percent, how do you expect inflation to change?
What will be an ideal response?
Before the creation of the European Economic Community, there was the
A) European Economic Union. B) European Coal and Steel Community. C) European Union. D) European Free Trade Area. E) Single European Community.
In general, the larger the price elasticity:
a. the smaller the responsiveness of price to changes in quantity. b. the smaller the responsiveness of quantity to changes in price. c. the larger the responsiveness of price to changes in quantity. d. the larger the responsiveness of quantity to changes in price.
________ fixed the exchange rates of Germany, France, Italy, the Netherlands, Belgium, Denmark, Ireland, and Luxembourg beginning in 1979.
A. A currency board B. The International Monetary Fund C. The European Central Bank D. The Exchange Rate Mechanism