The Children's Health Insurance Program is designed to
A. replace Medicaid for children.
B. augment Medicaid by insuring the children of working (but low income) families who have no insurance.
C. insure all children, regardless of circumstance.
D. replace Medicaid for families with children.
Answer: B
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Refer to the figure above. What is the price effect of a price reduction from $6 to $4?
A) $300 B) $600 C) $900 D) $1,200
A firm has $200,000 to spend on either direct sales or advertising. Suppose further that if the $200,000 is spent on direct sales, it will bring in an accounting profit of $40,000. Instead, the (accounting) profit it could obtain from a $200,000 investment in advertising is $X. Compare the profitability of the two options if (a) X = 50,000, (b) X = 30,000, or (c) X = 40,000.
What will be an ideal response?
If oligopolists engaged in some sort of collusion, industry output would be __________ and the price would be __________ than under perfect competition
a. smaller, lower b. smaller, higher c. smaller, no different d. greater, lower e. greater, higher
Who of the following has been prominently accused of acting on the basis of the "edifice complex?"
a. the Environmental Protection Agency? b. A. C. Pigou c. the Army Corps of Engineers d. environmental activists