The health care system in the United Kingdom is often referred to as ________, under which the government owns most of the hospitals and employs most of the doctors
A) a single-payer system
B) a universal health insurance system
C) socialized medicine
D) a private health care system
C
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The functions of money are to serve as a
A. resource allocator, a method for accounting, and a means of income distribution. B. determinant of consumption, investment, and government spending. C. unit of account, a store of value, and a medium of exchange. D. factor of production, exchange, and aggregate supply.
An economy in long-run equilibrium experiences an increase in aggregate demand. According to the classical model,
A) the price level will increase, but real GDP will not change. B) the price level and real GDP will increase at the same time. C) the price level will increase, but real GDP will decrease. D) the price level will rise first, then real GDP will increase.
Even when a particular monetary asset is not performing one of the functions of money well, people still use the asset because
A) once an asset is defined as money it is always money. B) people expect money will come back at a later date. C) they have no choice. D) it is still easier than relying on barter.
A video available on a Web site that allows free download is a ________
A) private good B) public good C) club good D) common pool resource