The impact of technology on health care has
A) provided for a higher quality of life.
B) increased health care costs.
C) contributed to increased life expectancy.
D) All of the above are correct.
Answer: D
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When China builds a dam using few machines and a great deal of labor, it is answering the ________ part of one of the two big economic questions
A) "what" B) "how" C) "where" D) "for whom"
If a newspaper reporter wanted to learn about changes in the U.S. price levels, she would probably get that information by looking at the
a. real gross domestic product b. consumer price index c. latest press release from the Council of Economic Indicators d. nominal gross domestic product e. gross national product
If a small percentage increase in the price of a good results in a rather large percentage increase in the quantity supplied of the good, supply is said to be
a. vertical. b. relatively inelastic. c. relatively elastic. d. robust.
A rational consumer maximizes his or her:
A. wealth. B. total utility. C. marginal utility. D. profit.