The definition of a model is a:
a. description of all variables affecting a situation.
b. positive analysis of all variables affecting an event.
c. simplified description of reality to understand and predict an economic event.
d. data adjusted for rational action.
c
Economics
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Nominal gross domestic product (GDP) is measured in terms of the _____
a. current-year prices b. base-year prices c. export of goods and services d. amount of taxes collected e. hours of employment
Economics
Nations with single payer systems typically have
A. higher tax rates than exist in the U.S. B. better access to high-tech medical solutions than in the U.S. C. serious inequality in the access to basic care. D. lower life expectancies than in the U.S.
Economics