Studies in industrially advanced nations indicate that a 3 percent increase in incomes will generate a:

A. 1 percent increase in the amount of health care demanded

B. 1.5 percent increase in the amount of health care demanded

C. 3 percent increase in the amount of health care demanded

D. 6 percent increase in the amount of health care demanded

C. 3 percent increase in the amount of health care demanded

Economics

You might also like to view...

Does expansionary fiscal policy directly increase the money supply? Isn't it true that the president and Congress fight recessions by spending more money?

What will be an ideal response?

Economics

Suppose Russia's inflation rate is 200% over one year but the inflation rate in Switzerland is only 2%. According to relative PPP, what should happen over the year to the Swiss franc's exchange rate against the Russian ruble?

What will be an ideal response?

Economics