Which of the following helps in determining whether health care cost rises because of government policy, or because of demand rising faster than supply?
a. Examining the market for health care away from the belief that the market outcome is unfair
b. Examining the market for health care with the belief that the market outcome is unfair
c. Examining the allocation system
d. Examining the changes in the price of health care products
e. Examining the changes in the number of suppliers of health care in the market
a
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Which of the following is characteristic of business cycles?
a) consumption displays greater volatility than GDP b) investment remains relatively stable throughout the business cycle c) the inflation rate is a leading indicator of recessions and expansions in GDP d) the unemployment rate is a leading indicator of recessions and expansions in GDP e) the growth rate of wages fluctuates less than the growth rate of GDP
Suppose there are two economies that are identical in every way with the following exception. Economy A has an unemployment compensation system while economy B does NOT have an unemployment compensation system. Now suppose both economies experience the same drop in planned investment. Which of the following is correct?
A. Real GDP will fall more in economy A than in economy B. B. Real GDP will fall the same in both economies. C. Real GDP will fall more in economy B than in economy A. D. The effect on the relative size of the reduction in real GDP in the two economies is ambiguous.