Inflation is a general and ongoing:
a. rise in the level of prices in an entire economy over time.
b. lowering in the level of prices in an entire economy over time.
c. rise in relative prices in an entire economy over time.
d. lowering in relative prices in an entire economy over time.
a. rise in the level of prices in an entire economy over time.
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Human capital contributes to growth because it helps workers in the economy:
A. produce more with the same amount of physical capital. B. work smarter. C. be more productive with their time. D. All of these are true.
Which of the following is not correct?
a. When a union is present in a labor market, wages are determined by the equilibrium of supply and demand. b. Like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power. c. The process by which unions and firms agree on the terms of employment is called collective bargaining. d. Most workers in the U.S. economy are not members of a union.
Refer to the figure above. What is the total surplus after Barylia opens up to free trade?
A) $455 B) $800 C) $1,000 D) $1,200
Network model HMOs use _______ to shift financial risk back onto providers
a. capitation. b. practice guidelines. c. open panels. d. closed panels. e. formularies.