According to economic theory, the democratic political processes tend to produce
A) unstable aggregate demand policies with a bias toward expansion.
B) unstable aggregate demand policies with a bias toward contraction.
C) stable aggregate demand policies, but only if economists are elected to office.
D) stable aggregate demand policies that are in the best interests of the nation as a whole.
E) economic policies that harm everybody.
A
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An increase in the growth rate of nominal GDP would be displayed in our model as:
A. a parallel shift of the AD curve outward. B. the AD curve becoming steeper. C. a parallel shift of the AD curve inward. D. the AD curve becoming flatter.
In the health insurance market, adverse selection occurs when
A) chronically ill people buy health insurance. B) insured people go to the doctor unnecessarily. C) patients sue their doctor. D) people with health insurance tend to behave more recklessly.