In the health care market:
A. demand has increased relative to supply.
B. supply has increased relative to demand.
C. neither demand nor supply has changed significantly in the past two decades.
D. the concepts of demand and supply are irrelevant.
Answer: A
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A) checkable deposits and currency. B) time deposits and currency. C) currency and savings deposits. D) time deposits and money market fund deposits. E) the lines of credit on credit cards and currency.
The short run is a time frame in which
A) the quantities of some factors of production are fixed and the quantities of other factors of production can be varied. B) the quantities of all factors of production can be varied. C) the quantities of all factors of production are fixed. D) all costs are sunk costs.