The FE line
A. slopes downward.
B. is horizontal.
C. is vertical.
D. slopes upward.
Answer: C
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If both the supply and demand curves shift to the left, then we can conclude that there will be
A. an increase in the equilibrium quantity sold. B. a decrease in the equilibrium quantity sold. C. an increase in the equilibrium price. D. a decrease in the equilibrium price.
The Latin term "ceteris paribus" means
A) "obviously true." B) "what is true of the whole is not necessarily true of the parts." C) "false unless proven true." D) "other things remaining the same." E) "after this, therefore because of this."
The costs associated with the overproduction of medical services as a result of comprehensive health insurance are passed on to everyone who has health insurance in the form of higher premiums
a. True b. False
Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply.
What will be an ideal response?