All of the following statements are examples of normative economic analysis except
A) as the demand for emergency room nurses increases, more students are choosing to enroll in nursing school.
B) to provide better care, doctors should be required to limit the number of patients they see each day.
C) people should be able to choose whether they want to purchase health insurance.
D) prescription drugs are too expensive and the government needs to regulate prices in the pharmaceutical industry.
A
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The Robinson-Patman act
a. Is a part of the antitrust laws b. Makes it illegal to give a price discount on a good sold to another business c. Makes it illegal to give a price discount on a good sold to final customers d. Both A&B
The statement that "night shift workers make a higher wage than day shift workers" is likely to reflect the fact that
a. most people's preference is to work the day shift. b. some people prefer to work a night shift for nonmonetary reasons. c. night shift jobs are generally more technically difficult. d. more women than men work the night shift.
If the demand and supply for pickup trucks both increase, which of the following would happen?
a. Quantity becomes indeterminate.
b. Quantity falls.
c. Price rises.
d. Price becomes indeterminate.
The quantity of a good demanded in a given time period increases as the price falls, which is known as:
A. Say's Law. B. The law of ceteris paribus. C. The law of demand. D. The opportunity cost.