Adding more resources causes:
a. downward movement along a production possibilities curve.
b. the production possibilities curve to shift in.
c. upward movement along a production possibilities curve.
d. the production possibilities curve to shift out.
e. the production possibilities curve to become positively sloped.
d
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The health care system in ________ is referred to as a universal health insurance system, under which every resident is required to enroll in either a private or the government-provided health insurance program
A) Canada B) Japan C) the United Kingdom D) the United States
Consider a downward-sloping demand curve. When the price of a normal good decreases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.
The ________ illustrates the relationship between the price level and the quantity of planned aggregate expenditure, holding constant all other factors that affect aggregate expenditure
A) savings line B) 45-degree line C) consumption function D) aggregate demand curve
If an industry has 16 firms of equal size, and each produces and sells the same quantity of output at the same price, what is the four-firm concentration ratio of this industry?
a. 16 percent b. 18 percent c. 22 percent d. 25 percent e. not enough information to determine