In what ways do economists and policymakers who believe that the federal government should have a larger role in the health care system criticize the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
These people believe that information problems and externalities in the market for health care are large enough that the government should provide health care with either government-owned hospitals and government-employed doctors, or should pay for health care through national health insurance. They basically believe that the ACA does not have enough government involvement, and should be more like the systems in Canada, Japan, and Europe.
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If real GDP grows at 3 percent a year, the quantity of money grows at 5 percent a year, and the velocity of circulation is constant, then the price level must be
A) increasing at 8 percent a year. B) decreasing at 2 percent a year. C) increasing at 15 percent a year. D) increasing at 2 percent a year. E) decreasing at 8 percent a year.
If people hold onto some money as cash, rather than depositing it into banks:
A. this will not affect the size of the money multiplier. B. the money multiplier will be smaller. C. the money multiplier will be zero. D. the money multiplier will be larger.