Being that health care is a basic human right, there is no opportunity cost for the utilization of medical services
a. True
b. False
Indicate whether the statement is true or false
False
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To stimulate investment spending, Congress would most likely decrease
a. personal income taxes. b. capital gains taxes. c. property taxes. d. real interest rates.
The Economist magazine's Commodities Price Index tracks the prices of the most:
A. important finished goods that are traded internationally. B. important minerals that are traded internationally. C. important productive resources that are traded internationally. D. heavily traded agricultural-based products.
Suppose that at the current level of output, price = $12, MC = $14, AVC = $7, and ATC = $9. Which of the following is TRUE?
A) The firm should decrease output. B) The firm should shut down. C) The firm should increase output. D) The firm should maintain the current level of output.
The use of data in economic models is important because
A) the model's predictive value rests on supportive evidence from real-world data. B) the models are always complex in nature. C) models must analyze every possible angle of the problem. D) social problems analyzed by economists require long streams of data.