In the past several decades, U.S. health care expenditures have:
A. risen absolutely but declined as a percentage of GDP.
B. declined absolutely but risen as a percentage of GDP.
C. risen absolutely and as a percentage of GDP.
D. declined absolutely and as a percentage of GDP.
Answer: C
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The expenditure approach values ________ and the income approach values ________
A) goods and services at market prices; goods and services at factor prices B) services only at factor prices; goods only at market prices C) only goods at market prices; only services at factor prices D) goods and services at market prices; services at factor prices E) goods and services at factor prices; goods and services at market prices
In order for a monopolist to earn an economic profit in short-run equilibrium, marginal revenue must be equal to zero
a. True b. False Indicate whether the statement is true or false
Very few people in Kyle’s country have more than a sixth-grade education. In contrast, 80 percent of the people in Carmen’s country have at least a high school diploma. Based on this information, which statement about these two countries is most likely true?
a. Carmen’s country has limited physical capital. b. Carmen’s country has a higher rate of economic growth than Kyle’s country. c. Kyle’s country has a higher birthrate than Carmen’s country. d. Carmen’s country has higher per capita output than Kyle’s country.
The dire predictions about the underfunded nature of Social Security, Medicare, and state and local pensions could be wrong because
A. interest rates may turn out to be higher in the future. B. unemployment rates may turn out to be higher than they are currently predicted to be. C. taxable incomes may turn out to be higher than they are currently predicted to be. D. taxable incomes may turn out to be lower than they are currently predicted to be.