The __________ level of government accounts for the largest share of health care spending.
A. regional
B. state
C. municipal
D. federal
D. federal
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The above figure shows the market demand curve for long-distance telephone calls
Suppose the marginal cost of a long-distance telephone call is 2ยข a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry. If the firms in the industry operate as perfect competitors, there are ________ minutes of calls made per hour. A) between 0 and 3 million B) more than 3 million and less than or equal to 5 million C) more than 5 million and less than or equal to 7 million D) more than 7 million and less than or equal to 9 million E) more than 9 million
To protect the competitive economic system by restricting the formation of monopolies, the government has passed and enforced
A) regulatory laws. B) antitrust laws. C) tort laws. D) zoning laws.
In the short run, the nominal interest rate is affected by changes in the money supply perceived to be temporary, but once ___ adjust(s), the nominal interest rate ___ in the long run.
a. the supply of money; rises b. the price level; will revert to its former level c. expectations of interest rates; falls d. real GDP; does not change
What is the motivating force behind the free market?
a) competition b) the invisible hand c) self-interest d) Specialization