Which of the following statements is true?
A) Income inequality within most countries has increased during the past 20 years.
B) Income inequality across the entire world has decreased during the past 20 years.
C) Income inequality within most countries and across the entire world has not changed much during the past 20 years.
D) Both A and B are correct.
E) None of the above is correct.
D
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Which of the following is TRUE?
A) Points along the aggregate supply curve show the equilibrium levels of output and prices that are consistent on the demand side of the economy. B) Points along the aggregate demand curve show the equilibrium levels of output and prices that are consistent on the supply side of the economy. C) Aggregate demand shows the levels of GDP and prices where expenditure decisions and production decisions match. D) Aggregate supply shows the levels of GDP and prices where expenditure decisions and production decisions match.
When medical fee schedules are negotiated by two monopolists—one representing patients and one representing providers—the equilibrium medical fees will
a. be greater than fees determined in a competitive market. b. be less than fees determined in a competitive market. c. be greater than fees determined by provider groups alone. d. be less than fees determined by patient groups alone. e. depend on the relative bargaining strengths of the two groups negotiating the fee schedule.