The Phillips curve shows
A. A historical (direct) relationship between the rate of unemployment and the rate of inflation.
B. A historical (direct) relationship between the rate of unemployment and the rate of growth of real GDP.
C. A historical (inverse) relationship between the rate of unemployment and the rate of inflation.
D. A historical (inverse) relationship between the rate of unemployment and the rate of growth of real GDP.
Answer: C
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School vouchers can be used to arrive at the efficient market equilibrium because vouchers
A) increase demand for schooling. B) increase supply of schooling. C) decrease the cost of schooling. D) decrease supply of schooling.
Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. Which of the following would be a variable cost in a hospital?
A) nurses B) An MRI machine C) laboratory equipment D) gurneys
Food stamps and Medicaid are examples of:
A. cash transfer programs. B. welfare programs that have been eliminated. C. in-kind transfer programs. D. programs created by the Personal Responsibility Act.
What would happen to the optimal amount of pollution if studies have found dangerous effects of SO2 cause cancer and the government subsidizes companies to use different pollution cleaning techniques?
A. Stay the same B. Increase C. Decrease D. Uncertain