An increase in the demand for medical services caused by an increase in the number of people over 65 is most likely attributable to which demand shifter?
A) income
B) consumer preferences
C) prices of other goods
D) demographic characteristics
Ans: D) demographic characteristics
You might also like to view...
Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. How would Michigan public radio best be classified?
A) as a private good B) as a common resource C) as a natural monopoly D) as a public good
AGI is
A. found by subtracting certain business expenses from H-S income. B. found by subtracting exemptions from taxable income. C. not used in modern tax policy. D. none of these answer options are correct.
For each watch Denmark produces, it gives up the opportunity to make 50 pounds of cheese. Germany can produce one watch for every 100 pounds of cheese it produces. Which of the following is true with regard to opportunity costs in the two countries?
a. The opportunity cost of producing watches is higher in Denmark. b. The opportunity cost of producing cheese is higher in Denmark. c. The opportunity cost of producing cheese is identical in both countries. d. It is impossible to compare opportunity costs because the two countries use different currencies. e. In both countries combined, the opportunity cost of one watch is 150 pounds of cheese.
Which of the following changes would cause American net exports to decrease?
A) A decrease in the real value of the dollar B) A decrease in American income C) An increase in foreign income D) A shift in demand by American consumers away from domestically produced goods