Vaccinations tend to result in a negative externality
Indicate whether the statement is true or false
FALSE
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Actual insurance premiums charged by insurance companies may exceed the actuarially fair rates because:
A) the insurance companies have monopoly rights issued by state regulators. B) the insurance companies are risk averse. C) there are administrative costs and other expenses that must be covered by the premia. D) insurance companies tend to over-state the risks they face.
The slope of the total product curve is the
A) average product. B) slope of a line from the origin to the point. C) marginal product. D) marginal rate of technical substitution.
If a firm in a competitive labor market offers less than the market wage rate, it will
A. find that it has broken a federal wage law. B. find that the supply is greater than the demand. C. attract too few employees. D. be able to attract a large number of employees because the marginal revenue product is low.
For purposes of analyzing the money stock and its relationship to relevant economic variables, money is best thought of as
a. those items that can be readily accessed and used to buy goods and services. b. currency only. c. currency plus all bank accounts. d. currency plus all bank accounts plus bonds.