Entrepreneurs seek accounting profit
Indicate whether the statement is true or false
False
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Suppose a tax on buyers has been imposed in the graph shown. Once the tax is in place, the buyers purchase ____ units and pay ____ for each one.
A. 6; $22
B. 6; $34
C. 9; $18
D. 9; $30
From the standpoint of economic efficiency, which of the following is a major advantage of medical savings accounts?
a. They encourage healthcare consumers to purchase low-deductible, low co-payment medical insurance plans. b. They guarantee that no American will ever have to pay another medical bill. c. They encourage healthcare consumers to economize. d. They will force employers to pay a larger share of the medical expenses of their employees.
When companies like Uber and Lyft join the ride-share market, what would we most likely expect to see cab drivers do to their prices?
A. Raise prices and advertise more. B. Leave their prices the same. C. Lower prices to stay competitive. D. Lower prices for a while and then raise them again.
If the economy is in a recession, it means that:
A. the short-run equilibrium is to the left of the long-run aggregate supply curve. B. total output is less than potential output. C. the economy is not in long-run equilibrium. D. All of these are true.