Refer to the accompanying figure. The opportunity cost of increasing medical care from 200 to 400 units is ________ the opportunity cost of increasing medical care from 400 to 600 units.
A. less than
B. exactly the same as
C. twice as much as
D. greater than
Answer: A
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A depreciation of the exchange rate is most likely to be celebrated by ________
A) exporters B) consumers C) central bankers D) importers
In the majority of cases where there is a natural monopoly in the United States, the government usually deals with the problem
a. by splitting the natural monopoly into smaller companies. b. through regulation. c. by turning the natural monopoly into a public enterprise. d. by doing nothing.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
When the government sets a maximum price that can be charged for a good or service, it creates
A. a price ceiling. B. a price support. C. a white market. D. a price floor.