According to economists, which of the following is the best example of a market?
A. A flea market.
B. The trading floor of the New York Stock Exchange.
C. The local shopping mall.
D. The retail market for winter coats in Chicago.
D. The retail market for winter coats in Chicago.
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Assume that the marginal propensity to consume in an economy is 0.75. If the economy's full-employment real GDP is $900 billion and its equilibrium real GDP is $800 billion, there is a recessionary expenditure gap of
A. $133 billion. B. $25 billion. C. $100 billion. D. $400 billion.
If 14 workers produce a total of 25 cabinets and 15 workers produce a total of 30 cabinets,
a. the marginal product of the fifteenth worker is 2 cabinets b. the marginal product of the fifteenth worker is 5 cabinets c. the marginal product of the fifteenth worker is 30 cabinets d. the marginal product of the fifteenth worker is $5 e. diminishing returns begins with the fifteenth worker
The investment trade-off:
A. defines the opportunity cost of capital investment. B. is why countries don't devote all their resources to capital investment. C. is a reduction in current consumption to pay for the investment in capital intended to increase future production. D. All of these are true.
Why would a health system want to participate in a trial of bundled payment?
A. Because profits from a bundled payment are usually guaranteed B. To gain experience with a new payment system C. Beneficiary satisfaction is higher in traditional Medicare D. All of the above