At a short-run macroeconomic equilibrium, real GDP is always equal to potential GDP

A system of universal medical insurance would tend to ________ the ________ for medical services

A) increase; elasticity of demand B) decrease; elasticity of demand C) decrease; quantity demanded D) decrease; non-monetary payments

Which of the following about economic growth is true?

a. The developed nations are growing rapidly and the less-developed nations are stagnating. b. Most of the countries that have achieved the highest growth rates in the world during the last quarter of a century were classified as LDCs in 1980. c. It is an oversimplification to divide the world into the growing, developed nations and the stagnating, less-developed nations. d. Both b and c are true. e. All of the above are true.