If a person does not have to pay more than $3,000 in a year for health-care expenses, this is called their
A. co-payment.
B. lifetime maximum.
C. maximum out-of-pocket.
D. deductible.
Answer: C
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Of the following products, which is most standardized?
a. pizza b. concrete c. automobiles d. clothing e. paintings
The monopolist faces a:
A. perfectly inelastic demand curve. B. perfectly elastic supply curve. C. downward sloping demand curve. D. perfectly elastic demand curve.
Firms will hire additional workers as long as the wage:
A. equals the marginal product of labor. B. is less than the value of the marginal product of labor. C. is greater than the marginal product of labor. D. is less than the marginal product of labor.
Changes in floating exchange rates move a country's economy to:
A. a low value for its inflation rate. B. a zero value for its official settlements balance. C. its potential real GDP. D. all of the above.