Money in the U.S. is essentially debt of
A. the national and local governments.
B. businesses and the banks.
C. the Federal Reserve System and the banks.
D. businesses and the Federal Reserve System.
Answer: C
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A perfectly horizontal demand curve has
A) zero elasticity. B) some positive finite elasticity. C) negative elasticity. D) perfect elasticity.
Which of the following statements is true in the context of the long run?
a. All the factors of production are fixed. b. No new firms enter the market. c. The producer can vary all the factors of production. d. The firms earn positive economic profit. e. Large firms tend to acquire market power.
The difference between absolute and comparative advantage is that:
a. absolute advantage refers to input cost, while comparative advantage refers to opportunity cost. b. absolute advantage refers to opportunity cost, while comparative advantage refers to input cost. c. absolute advantage refers to individuals, and comparative advantage refers to countries. d. absolute advantage refers to countries, and comparative advantage refers to individuals. e. absolute advantage is applicable to intranational trade, while comparative advantage applies to international trade.
Based on the graph showing the 2016 U.S. health dollar, most health care is funded by ______.
a. out of patient pockets
b. private insurance
c. Medicare
d. Medicaid