If the supply of health-care services is highly inelastic and larger government subsidies lead to an increase in the demand for the services,
a. the prices of health-care services will rise by only a small amount, but the quantity supplied will increase substantially.
b. the prices of health-care services will rise substantially, but the quantity supplied will increase by only a small amount.
c. both health-care prices and the quantity of the services supplied will increase substantially.
d. the prices of health-care services will decline, but there will be only a small change in the quantity supplied.
B
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A "long-run exploitable Phillips curve" refers to a Phillips curve that in the long run is ________ rather than ________
A) downward sloping; vertical B) vertical; horizontal C) horizontal; upward sloping D) upward sloping; vertical
In September 1929, Roger Babson predicted the collapse of the stock market
Indicate whether the statement is true or false