To construct GDP, exports:
a. and imports must be subtracted.
b. and imports must be included.
c. must be included and imports must be ignored.
d. must be included and imports must be subtracted.
d
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The evidence on mergers occurring within the hospital industry suggests that
A) efficiency gains that resulted have been passed on to customers through lower prices. B) the mergers have tended to not have any significant effect on hospital prices. C) prices have risen slightly as some efficiency gains are passed on to customers after mergers. D) prices have risen after mergers.
Assume you are spending your full budget and purchasing such amounts of X and Y that the marginal utility from the last units consumed is 40 and 20 utils respectively. Assume (a) the prices of X and Y are $8 and $4 respectively; (b) it takes 3 hours to
consume a unit of X and 1 hour to consume a unit of Y; and (c) your time is worth $2 per hour. You: A. should substitute X for Y until the marginal utility per hour is the same for both products. B. are consuming X and Y in the optimal amounts. C. should consume less of Y and more of X. D. should consume less of X and more of Y.