Based on the graph showing the supply and demand for health care service, health insurance ______.
a. decreases the demand for health care
b. increases the demand for health care
c. decreases the price for health care
d. increases the efficiency of health care
b. increases the demand for health care
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Fiat money: a. has value because people accept it
b. has a high intrinsic value. c. is backed by commodity reserves. d. is money because of its metallic content. e. is frequently clipped.
The absolute value of the marginal rate of substitution is a measure of
A. the slope of a budget constraint. B. the relative price of two goods. C. income effect of a price change. D. the slope of an indifference curve.
If the multiplier = 2.5, the MPS would be
A) 0.25. B) 0.4. C) 0.6. D) 0.75.
Which of the following is NOT part of the FOMC directive?
A) It lays out the FOMC's general economic objectives. B) It specifies target ranges for money supply growth. C) It establishes short-term federal funds rate objectives. D) It specifies who the chair of the Fed is.