Low inflation rates and high inflation rates impose different costs on society
a. True
b. False
Indicate whether the statement is true or false
True
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Health insurance companies impose deductibles on policies and copayments on claims to
A) increase prices. B) increase sales. C) reduce the moral hazard problem. D) increase asymmetric information.
A fiscal policy is considered sustainable when the debt-to-GDP ratio is ________, and it is considered unsustainable when the debt-to-GDP ratio is ________
A) constant; increasing or decreasing B) constant or decreasing; increasing C) decreasing; constant or increasing D) constant or increasing; decreasing
The amount of a good that must be given up to produce another good is the concept of:
A. scarcity. B. specialization. C. opportunity cost. D. efficiency.
The additional revenue obtained by a firm when it hires an additional worker, holding other inputs constant, is
A) the marginal physical product of labor. B) the marginal revenue product of labor. C) the marginal cost of labor. D) equal to total revenue divided by the number of workers.