Which of the following is a possible cause of a rightward shift in the supply of healthcare?
a. A fall in the price of resources used to produce healthcare products
b. An increase in the price of resources used to produce healthcare products
c. A fall in the profit expectations of healthcare providers
d. A fall in the number of suppliers of healthcare
e. An expectation of an increase in the price of healthcare products in future
a
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Refer to the scenario above. What will the outcome of this game be?
A) Both players will choose black. B) Both players will choose white. C) Arthur will choose white and Catherine will choose black. D) Catherine will choose white and Arthur will choose black.
A consumer has maximized his or her utility by consuming
A) at the midpoint of the budget constraint line. B) at the midpoint of the demand curve. C) so that the total utility of all goods consumed is the same. D) so that the ratio of marginal utility to price is the same for all goods consumed.
If a good is income inelastic what does this imply would happen to consumption of this good if you were to win the lottery?
What will be an ideal response?
If the MPS is 0.1, the tax multiplier is
A. 10. B. -5. C. -9. D. -10.