Which of the following statements about medical care costs is true?
A. In the United States, workers are taxed on company-funded medical care expenses.
B. In the last decade, medical care costs have risen more slowly than the overall rate of inflation.
C. Third-party payers have been able to force large reductions in medical expenses.
D. Medical care costs per person have risen faster than income per person.
Answer: D
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Using the data in the above table, if potential GDP for this economy is $25 billion, then in order to restore full employment, the federal funds rate can be
A) lowered so that government expenditure on goods and services increase. B) raised so that consumption expenditure, investment, and net exports increase. C) lowered so that consumption expenditure, investment, and net exports increase. D) raised so that net exports increase. E) lowered so that consumption expenditure and investment increase, though net exports decrease.
All else constant, an increase in the demand for bonds
A) increases the equilibrium quantity and the equilibrium price of bonds. B) increases the equilibrium quantity and decreases the equilibrium price of bonds. C) decreases the equilibrium quantity and increases the equilibrium price of bonds. D) decreases the equilibrium quantity and the equilibrium price of bonds.