Fixed prices in a free-market economy can increase efficiency
a. True
b. False
Indicate whether the statement is true or false
False
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Big Health is a large health care insurance provider and offers two types of policies. Policy A has an annual price of $1,000 and a co-pay of $20 (the fee that the policy owner pays when seen by a doctor) and Policy B has an annual price of $500 and a co-pay of $50. Individuals will ________ when they choose a policy and Policy ________ will appeal to healthy individuals who do not plan on
needing extensive health care. A) self-reveal; A B) signal; A C) self-reveal; B D) signal; B
If stocks are riskier than bonds, why would a rational investor ever buy stocks?
What will be an ideal response?
Which of the following is not considered part of the services category under the expenditure approach to GDP accounting?
a. sporting events b. haircuts c. commercial airline transportation d. privately owned jets
Give a short concise definition for the following terms and explain their relationship to the study of economics
a. marginal physical product b. marginal revenue product c. law of diminishing returnsd economies of scale