We all know that the United States has the highest per capita health care spending in the world. Which country has the second highest?

Showing the government's budget deficit as a percentage of nominal GDP is a simple way to correct for the effects of both inflation and the ability of the economy to handle the deficit.

What will be an ideal response?

Suppose the American Medical Association announces that men who shave their heads are less likely to die of heart failure. We could expect the current demand for

a. hair gel to increase. b. razors to increase. c. combs to increase. d. shampoo to increase.