During the 1965-2009 period, the price index of healthcare services
a. declined slightly relative to the overall consumer price index.
b. fell by approximately 50 percent compared to the overall consumer price index.
c. increased at twice the rate of the overall consumer price index.
d. rose during a brief period following the passage of Medicare and Medicaid but has been relatively stable since that time.
C
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In a perfectly competitive market, the market clearing price:
A) is always equal to the equilibrium price. B) is unrelated to the equilibrium price. C) is always lower than the equilibrium price. D) is always higher than the equilibrium price.
Suppose that Y = 4,000 and we are at a point on the money demand schedule where (M/P) = 600. Should Y rise to 4,200, the same quantity of real money balances
A) will not be demanded under any conditions. B) will be demanded again provided the interest rate does not change. C) will be demanded again provided the interest rate rises by a certain amount. D) will be demanded again provided the interest rate falls by a certain amount.