Which of the following persons is most likely to be insured for health care?
A. A minimum-wage teenager working for a fast-food restaurant.
B. A skilled worker employed by a large multinational corporation.
C. An unemployed retail clerk.
D. A part-time groundskeeper for a small manufacturing plant.
Answer: B
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Which of the following predictions can be made using the growth rates associated with the quantity equation, assuming velocity is stable?
A) If the money supply grows at a faster rate than real GDP, there will be inflation. B) If the money supply grows at a slower rate than real GDP, there will be inflation. C) If the money supply grows at the same rate as real GDP, the price level will be fall and there will be deflation. D) If the money supply grows at the same rate as real GDP, the price level will also increase at the same rate as real GDP.
What is a long-run supply curve? What does a long-run supply curve look like on a perfectly competitive market graph?
What will be an ideal response?