The Affordable Care Act
A. was a compromise between those who wanted an individual mandate and those who did not.
B. created a single-payer system, similar to the one in the United Kingdom.
C. was a compromise between those who wanted a single payer system and those who did not.
D. created an individual mandate, similar to the one in the United Kingdom.
Answer: C
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Suppose an investment bank has a leverage ratio of 10 and the value of its securities decline by 10%. What happens to its return on equity investment?
A) declines by 1% B) increases by 1% C) declines by 100% D) increases by 100%
Technological progress means that we produce more output with the same amount of inputs
Indicate whether the statement is true or false
Some economists argue that Okun's Law overstates the cost of cyclical unemployment because
A) the cost of retraining workers must be offset against the loss in output that occurs when workers are unemployed. B) if efficiency wages prevail, and workers are paid their real wage, already employed workers will reduce their effort, reducing output. C) it ignores the fact that leisure increases during a recession. D) it ignores the loss of government revenue and additional government expenditures that occur when unemployment rises.
Two farmers, A and B, each apply 100 tons of manure on their fields. To reduce manure runoff, the government has decided to require a permit for each ton of manure applied. The government gives each farmer 50 permits. Farmer A incurs losses of $25 for each ton of manure he does not apply, and Farmer B incurs losses of $50 for each ton of manure he does not apply. What is the total cost of
reducing runoff if firms are not allowed to buy and sell permits from each other? What is the total cost of reducing runoff if the firms are allowed to buy and sell permits from each other? a. $3,750; $2,500 b. $2,500; $3,750 c. $5,000 . $2,500 d. $3,750; $3,750