The supply curve will shift to the left when
A) the supply of the product increases.
B) the demand for the product decreases.
C) some producers leave the industry.
D) the product becomes fashionable.
C
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According to the new growth theory, competition
A) reduces profit. B) increases profit. C) has no impact on real profit, only nominal profit. D) is only theoretical because all firms are growing at some rate.
What is a budget constraint?
What will be an ideal response?
Possibly, the most serious flaw in the Medicare system is the fact that
a. the deductible is too high for most elders to afford. b. it provides no real protection against catastrophic losses resulting from unusually long hospital stays. c. the definition of an episode of illness can lead to patients paying the deductible more than once during the calendar year. d. coverage for outpatient drugs is poor. e. elders are required to pay monthly premiums to participate in Part B.
Betty goes out to enjoy a bouffe with her friend instead of practicing calculus problems for her maths examination that is due the following day. This implies that the opportunity cost of the bouffe to Betty is zero
a. True b. False Indicate whether the statement is true or false