A majority of people in the United States have private health insurance
Indicate whether the statement is true or false
TRUE
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If the price exceeds the average variable cost, by producing the level of output such that marginal revenue equals marginal cost, the firm ensures that it will
A) earn an economic profit. B) not suffer any losses. C) earn the largest profit possible. D) survive in the long run.
When the Federal Reserve System was created in 1913, it was designed to
A) play the role of a passive service agency. B) stabilize the economy through the use of open market operations. C) collect taxes for the federal government. D) mint new gold and silver coins.
Revenue is equal to
A) price times quantity. B) price times quantity minus total cost. C) price times quantity minus average cost. D) price times quantity minus marginal cost. E) expenditure on production of output.
Ricardian equivalence will fail to hold if:
A. people increase their spending when they receive a tax rebate check. B. people save, and do not increase their spending when they receive a tax rebate check. C. intended expansionary effects of tax policy fail to occur. D. All of these.