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21 Jan 2018

18. [Related to the Making Connection] The Making the Connection explains that there are both positive and normative elements to the debate over whether medical schools should charge tuition and whether hospitals should continue to pay residents who pursue primart care but not residents who specialize

Which of the following economic statistsics would be the most useful in evaluating the positive elements in this debate?

A. Poverty rates by geographic region.

B. Medical school tuition rates, applications, and enrollments.

C. Age distribution characterists of the population by geographic region

D. Physician incomes by specialty and geographic region.

E. All of the Above

Assuming that these statistics are available or could be gathered, are they likely to resolve the normative issues in this debate?

A. Yes, the quantative analysis of hard economic data leaves no unsettled questions. Subjective considerations cannot override objective analysis.

B. No, because normative issues involve value judgements that incorporate an individuals full range of experiences, beliefs, and emotions.

22. The economy of East Paragon has been experiencing deflation for the last few months, with prices of goods and services declining. Because firms are charging lower prices, they expected higher sales. However, consumption spending did not increase much, resulting in substantial losses for these firms.

Which of the following, if true, explains why consumers did not increase consumption in spite of falling prices?

A. Most people were expecting prices to decline further.

B. The rate of unemployment in thise country is lower that most other developing countries.

C. The interest rate offered on bank deposits is low.

D. The government lowered taxes on corporate profits earlier this year.

E. The government recently accounced plans to withdraw subsidies on petroleum products.

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Nelly Stracke
Nelly StrackeLv2
23 Jan 2018
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