Agency is likely to have the most effect on the demand for which of the following?
A. Emergency department visits
B. Initial visits for an acute illness
C. Follow-up visits for an acute illness
D. Chronic care visits
C. Follow-up visits for an acute illness
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In the short run, a competitive firm has a marginal product of labor, MPL = 5L-0.5. The output price is $10 per unit and the wage is $7 per hour. The short-run labor demand curve for the firm is
A) 5L-0.5. B) 15L-0.5. C) 35L-0.5. D) 50L-0.5.
Completing a college degree signals to employers that you are:
A. intelligent. B. hardworking. C. able to complete assignments. D. All of these are signals one gives with a college degree.
Which of the following pairs of terms refer to the same thing?
a. "capital" and "physical capital" b. "technological knowledge" and "human capital" c. "standard of living" and "human capital" d. "standard of living" and "productivity"
One of the difficulties in implementing monetary policy is the time it takes:
A. to enact monetary policy once the Fed has decided action is needed. B. to pass new monetary policy once the Fed has decided action is needed. C. monetary policy to have an effect in the economy once enacted. D. to get approval from the Congress to implement the policy.