If product price increases, then:
a. MP will increase.
b. MFC will increase.
c. MRP will increase.
d. MP will decrease.
c
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There are several factors that nearly everyone agrees have contributed to economic growth in some or all countries. They do not include which of the following?
a. Growth in the quantity and quality of labor resources used b. Increase in the use of inputs provided by the land c. Growth in physical capital inputs d. All of the above are included.
When the Fed buys a Treasury bill from the public, how does it usually pay for the T-bill?
a. by writing a check on a commercial bank account b. by printing new Federal Reserve notes c. by creating new reserves in bank accounts d. by prepaying taxes into the Treasury's account
Figure 14.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. The insurance companies estimate that 40% of its customers are high-cost type. The uninformed side(s) of the market is (are):
A. customers. B. insurance companies. C. both customers and insurance companies. D. neither customers nor insurance companies.
The costs that we avoid by not eliminating pollution while being able to enjoy the goods that create the pollution are the social benefits of pollution.
Answer the following statement true (T) or false (F)