In 2007, about what percentage of people with private health insurance in the U.S. received it as an employer-provided benefit?
A. 34%
B. 51%
C. 72%
D. 88%
D. 88%
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In a perfectly balanced oligopoly (with eight firms, all having the same market share), if any one firm captures 1 percent of the market from one of the others,
a. c and d b. the eight-firm concentration ratio will increase c. the eight-firm concentration ratio will decrease d. the Herfindahl-Hirschman index will rise e. the Herfindahl-Hirschman index will fall
A monopsonist in the labor market has
A. an upward sloping labor supply curve. B. a perfectly elastic labor supply. C. an upward sloping marginal revenue product curve. D. a decreasing average variable cost.
Refer to the information provided in Figure 5.3 below to answer the question(s) that follow.
Figure 5.3Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger increases from $8 to $10, the price elasticity of demand equals ________ and demand is ________.
A. -9.0; inelastic B. 4.5; elastic C. -4.5; elastic D. -0.5; inelastic
Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3
Refer to Table 24.3. At an output level of $1,200 billion, there is an unplanned inventory change of
A. zero. B. positive $100 billion. C. negative $200 billion. D. positive $200 billion.