If more insurance companies decide to cover part of the price of voluntary laser eye surgery and more doctors decide to enter the field of laser eye surgery, what will happen in the market for laser eye surgery as a result of these two factors?
A) Demand and supply will both increase.
B) Demand will increase, but these two factors will not shift the supply curve.
C) Supply will increase, but these two factors will not shift the demand curve.
D) Demand will increase and supply will decrease.
A
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A fixed exchange rate regime
A) enhances the power of a country's central bank. B) leads to inflation. C) means that the price of gold is held constant. D) makes a country's central bank powerless.
Andy wants to maximize his grade-point average. Having spent six hours studying for his final exam in economics, Andy calculates his grade and discovers that even with a perfect score on the final, he will not pass the course. He decides to study two more hours so he will not have wasted the first six hours. Is this a good decision? Why or why not?
If there are powerful unions in a labor market, the use of the supply-and-demand model to analyze labor markets
A. is inappropriate. B. will cause you to believe the wage will be lower than it is. C. will cause you to believe that fewer people will be hired than will be. D. is completely accurate.
(Consider This) According to the Consider This box "Superstars," the high pay of superstars reflects:
A. elastic product demand. B. high marginal revenue productivity. C. blocked occupational entry. D. warped societal values.