The defining characteristic of an HMO is:
A. that medical treatment is provided for a fixed annual fee.
B. the emphasis on acute medical treatment.
C. that medical treatment is provided on a fee-for-service basis.
D. that patients have the freedom to see nonmember physicians.
Answer: A
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A price increase will always cause a firm’s revenue to fall because they will sell less of the good.
Answer the following statement true (T) or false (F)
Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease?
A) an increase in the price of ostrich feed B) an increase in the price of ostriches C) a decrease in the price of goats D) an increase in the demand for goats
Which statement best describes the railroad?
(a) It is a good example of "technology transfer" (from England to the U.S.)—the first operating railroad was in England. (b) It is an American home product—the first operating railroad was in the U.S. (c) It was invented in England but first put into operation in the U.S. (d) It was invented in the U.S. but first put into operation in England.
Fluctuations in real GDP are caused only by changes in aggregate demand and not by changes in aggregate supply
a. True b. False Indicate whether the statement is true or false