Regarding U.S. health care costs, it is correct to say that:
a. Americans pay more for health care than people in other developed countries
b. U.S. health care costs are growing faster than the growth in other countries.
c. The level of health care costs are the source of fiscal pain that societies around the globe are experiencing.
d. All of these statements are true.
a
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If a firm is maximizing profit and the marginal revenue product of labor is $10 and the marginal revenue product of capital is $30, then
a. the marginal resource cost of labor is $3, and the marginal resource cost of capital is $0.33 b. the marginal resource cost of labor is $0.33, and the marginal resource cost of capital is $3 c. the marginal resource cost of labor equals the marginal resource cost of capital; both are $300 d. the marginal resource cost of labor is 1/3 of the marginal resource cost of capital e. we have no way of knowing the marginal resource cost of either labor or capital
Why don't competitive markets do a good job providing public goods?
a. Because people do not receive benefits from public goods. b. Because it is difficult to exclude people from gaining benefits from public goods without paying for them, and so market demand does not reflect the benefits to society from the public good. c. Because public goods generate negative externalities, and pollution taxes reduce the incentive for firms to supply public goods. d. Because firms cannot produce enough to satisfy market demand.
Jamal earns $160,000 per year and Josephina earns $80,000 per year. If Jamal pays $16,000 in income taxes and Josephina pays $5,000 in income taxes, the income tax system would be
A) regressive. B) progressive. C) proportional. D) marginal.
Gross domestic product is
A. NDP less changes in inventories. B. NDP plus net exports. C. NDP plus taxes. D. NDP plus depreciation.