The mathematical result showing that a majority rule voting system will produce the outcome most preferred by the voter exactly in the middle of the distribution is called the

A shortage, also known as excess demand, occurs if buyers want to buy more than sellers want to sell

a. True b. False Indicate whether the statement is true or false

Answer the following statements true (T) or false (F)

1) As a percentage of GDP, U.S. health care spending is higher than that of any other major industrial country. 2) The health care industry currently absorbs about 18 percent of U.S. gross domestic product. 3) Health care costs in the United States have risen absolutely but remained constant as a percentage of gross domestic product. 4) Rising health care costs have prompted workers to change jobs with greater frequency.