Part B of the Medicare program covers _____ and is _____
a. pharmaceuticals; voluntary
b. pharmaceuticals; mandatory
c. physician costs; voluntary
d. physician costs; mandatory
c
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Which of the following will increase the natural unemployment rate?
i. a minimum wage set above the equilibrium wage rate ii. efficiency wages iii. union-negotiated wages A) i only B) i, ii and iii C) i and ii D) ii and iii only E) i and iii only
Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the market price of cowboy hats is $35, The Waco Kid will produce
A) 1 hat. B) 2 hats. C) 3 hats. D) 4 hats.
At the current price of a good, Al's consumer surplus equals 15, and Ben's consumer surplus equals 15. By charging a two-part tariff, a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
If consumers and businesses are especially pessimistic, as in the Great Recession of 2007-2009, and do not want to borrow money from banks, then the use of an expansionary money policy is likened to:
A. Completing the circle B. Pushing on a string C. Filling in the blanks D. Checking the list