Supporters of national health insurance:
a. see health care as a fundamental right
b. believe that the best way to ration health care is through competitive markets
c. both of the above
d. neither of the above
Answer: a. see health care as a fundamental right
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In a steady-state economy with no population growth, capital per worker is 86, the saving rate is 25 percent, and the depreciation rate is 11 percent. The level of output per worker is ________
A) 195 B) 38 C) 35 D) 47
The median voter model suggests that _____
a. extreme candidates are unlikely to change positions over time b. extreme candidates have an easier time winning election because of the fervor of their supporters c. extreme candidates will have a difficult time winning election d. extreme candidates will be able to move a party's platform to better fit their positions
Mr. Calhoun owned a worn-out piece of farmland for growing cotton, which he had been unable to rent for years. Suddenly he was getting offers from cotton farmers to lease his land. What is the most likely explanation of this?
a. The price of cotton went down. b. The physical productivity of the land went up. c. Taxes on land went up. d. The price of cotton went up.
The principal-agent problem arises when
A. the principal and the agent have different objectives. B. the principal cannot enforce the contract with the agent or finds it too costly to monitor the agent. C. the principal cannot decide whether the firm should seek to maximize the expected future profits of the firm or maximize the price for which the firm can be sold. D. both a and b