Why might the consumer price index overestimate the cost of health care?
a. The quality of healthcare is declining.
b. The quality of healthcare is improving.
c. The quality of healthcare is constant.
d. The quality of health care is unmeasurable.
b. The quality of healthcare is improving.
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How might a U.S. federal budget surplus affect the balance of trade? (Assume exchange rates are stated in terms of foreign currency per U.S. dollar.)
A) A federal budget surplus raises interest rates, which raises exchange rates, and increases the balance of trade. B) A federal budget surplus reduces interest rates, which raises exchange rates, and reduces the balance of trade. C) A federal budget surplus raises interest rates, which raises exchange rates, and reduces the balance of trade. D) A federal budget surplus reduces interest rates, which reduces exchange rates and increases the balance of trade.
A McDonald's franchise is an example of
A) horizontal integration. B) quasi-vertical integration. C) a vertical merger. D) None of the above.