?
Refer to Table 4-1. At $4, what is the shortage?
A. 0
B. 1,500
C. 3,000
D. 4,500
E. 6,000
Answer: D
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________ , the higher the price elasticity of demand
a. The lower the availability of substitutes b. The greater the importance of the product in the consumer's budget c. The lesser the time period the consumer has to respond to a price change d. The greater the ability of the product to signify prestige
Refer to the information provided in Figure 29.2 below to answer the question(s) that follow.
Figure 29.2Refer to Figure 29.2. The price will fall if the economy is currently at Point ________ and policy makers implement a policy which decreases the aggregate demand curve to ________.
A. B; AD2 B. A; AD2 C. B; AD1 D. A; AD1
Education's benefit to society is an example of an externality.
Answer the following statement true (T) or false (F)
Prospective payments for Medicare
A. motivate patients and hospitals to keep costs down. B. are illegal in the US. C. motivate patients to keep costs down. D. motivate hospitals to keep costs down.