Using historical statistics is likely to produce accurate estimates of demand curves since such studies have large amounts of data to draw on.
Answer the following statement true (T) or false (F)
False
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If the demand for a good increases because consumer income increases, the good is a(n):
a. inferior good. b. normal good. c. necessity good. d. luxury good.
Explain the three different viewpoints (meanings) of the current account balance. Discuss the macroeconomic interpretations of a current account deficit.
What will be an ideal response?
The twin economic problems of the U.S. health care industry are the
A) rising health care costs and the declining quality of health care services. B) rising health care costs and the rising malpractice insurance costs. C) rising health care costs and the moral hazard problem in health care services. D) declining rate of immunization rates and the rising malpractice insurance costs.
Suppose the development of the European Union leads to greater investment in Europe. You'd expect
A. an increase in the world real interest rate. B. a recession in Europe. C. a decline in the world real interest rate. D. a rise in the current account in Europe.