A system financed primarily through retrospective fee-for-service insurance reimbursement is:
a. A closed system.
b. An open-ended system.
c. A cost-plus system
d. An efficient system.
e. Both b and c.
E
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Economists initially viewed the Phillips curve as a structural relationship, meaning that the relationship between the two measured variables
A) can change only slightly over time. B) can change greatly over time. C) will not change over time. D) will change in the short run but not in the long run.
Which of the following would be considered a market?
a. political debate b. charity gala c. church service d. garage sale
Referring to Table 4.2, Box B should be filled with 
A. $20. B. $0. C. $10. D. $30.