For many years, the price of medical care in the United States has:
A. risen at the same rate as the overall price level.
B. risen at a faster rate than the overall price level.
C. risen, but at a slower rate than the overall price level.
D. fallen.
Answer: B
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Using the data in the above table, gross domestic product as calculated by the income approach equals ________
A) $2,333 B) $2,592 C) $2,925 D) $2,205
Which of the following is an application of the adverse-selection problem?
a. a customer driving more recklessly after buying car insurance. b. a teenager "hanging out" with friends his or her parents do not approve of. c. shareholders offering a high-powered incentive contract to a manager. d. an auto repairman claiming that the repairs are more extensive than they actually are.
According to the law of demand, if the price of a netbook decreases, ceteris paribus, the demand for netbooks would increase
a. True b. False Indicate whether the statement is true or false
If there was a conspiracy to fix prices, but the conspiracy did not succeed, the government can still take the conspiring firm to court for improper conduct. This situation would be an example of:
A. The rule of reason B. A cease-and-desist order C. A per se violation D. Tying contracts