Compared to consumption spending, investment historically has tended to be
A. more variable.
B. greater.
C. stagnant.
D. more stable.
Answer: A
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Entry and exit continue in monopolistic competition until the remaining firms are
A) earning an economic profit. B) incurring an economic loss. C) earning less than a normal profit. D) earning zero economic profit. E) producing the normal amount of product differentiation.
The above figure supports all of the following statements regarding health care EXCEPT
A) the demand for health care is insensitive to price changes; as the price goes up, so does the quantity demanded. B) if all medical expenses were paid for by third parties, the quantity demanded would increase tremendously. C) due to third party payments, patients demand a higher quantity of health care services per year. D) the lower the deductible, the greater is the quantity demanded of health care services per year.
Which of the following program(s) examples is (are) in-kind assistance to fight poverty in the United States?
a. Medicaid b. Negative income tax c. Supplemental security income (SSI) d. Aid to Families with Dependent Children (AFDC) e. Welfare checks
Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were unemployed?
a. 0.846 million b. 0.9 million c. 1.5 million d. 6 million