It is generally agreed that in the long run the cost of private health insurance provided by employers is:
A. at the expense of business profits.
B. at the expense of real wages.
C. paid by taxpayers through government.
D. included as taxable income for income tax purposes.
Answer: B
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Refer to the above figure. A budget deficit occurs when real national income is
A) Y3. B) Y1. C) Y2. D) None of the above: cannot be determined given the information.
Of the following market structures, which is the most competitive?
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
Bicycles are made out of steel. If the price of steel increases, there is a shift in the supply curve of bicycles that leads to
A) a shift in the demand curve for bicycles. B) a temporary surplus of bicycles. C) a permanent surplus of bicycles. D) an increase in the price of a bicycle.
Which of the following is an impact of an increase in the general price level?
a. An increase in aggregate demand for goods and services b. A decrease in aggregate supply of goods and services c. An increase in the price of the financial assets d. A decrease in supply of bonds and other assets e. An increase in interest rates