Higher deductibles for employer-provided health care will tend to shift the ________ curve for medical services to the ________
A) supply; left B) supply; right C) demand; left D) demand; right
C
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Last year your job at the university cafeteria paid you $9 an hour and the price of a music download was $1.00. This year your cafeteria job pays $9.90 per hour and download costs $1.10. You are clearly
A. worse off because of inflation. B. worse off because the download is now relatively more expensive. C. better off because your wage rate went up. D. better off because the download now costs less work.
In 1997, OPEC ministers agreed to a 10 percent increase in oil production. This decision should be expected then to shift the United States's a. AS curve to the right, which would raise the U.S. price level and lower real GDP in the U.S. b. AS curve to the right, which would lower the U.S. price level and raise real GDP in the U.S. c. AS curve to the left, which would lower the U.S. price
level and raise real GDP in the U.S. d. AD curve to the left, which would lower the U.S. price level and real GDP e. AD curve to the right, which would raise the U.S. price level and real GDP
Price floors are sometimes called price supports because they prevent a price from falling below a certain level
a. True b. False Indicate whether the statement is true or false
In the context of the aggregate-demand curve, the interest-rate effect refers to the idea that, when the price level increases,
a. the real value of money decreases; in turn, the real value of the dollar increases in foreign exchange markets, which decreases net exports. b. the real value of money decreases; in turn, interest rates increase, which decreases net exports. c. households increase their holdings of money; in turn, interest rates decrease, which reduces spending on investment goods. d. households increase their holdings of money; in turn, interest rates increase, which reduces spending on investment goods.