Total U.S. government expenditures as a percentage of GDP were largest during which of the following periods of time?
a. The Great Depression.
b. World War II.
c. The Vietnam War.
d. The Energy Crisis of the mid- and late-1970s.
b
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In the circular flow model, the value of total production for an economy ________ the value of total expenditures on final goods and services.
A) equals B) is less than C) may be greater than or less than D) is greater than
Medicare hip and knee bundled payments have been able to reduce costs by
A. negotiating lower fees for surgeons. B. eliminating discharge planning. C. reducing postsurgical rehabilitation costs. D. All of the above
Figure 5-3
Suppose that the market price rises from $3 to $5. What is the change in market demand?
A. 80 B. 30 C. 50 D. 110
An important cause of recessions is an unexpected negative supply shift, such as higher oil prices.
Answer the following statement true (T) or false (F)