The demand for a service like medical care
a. decreases as income increases, indicating that medical care is an inferior good
b. is completely insensitive to price; that is, demand is perfectly inelastic
c. is perfectly elastic
d. is sensitive to the time component of cost
e. varies directly with the price of that care
D
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Monetarists assume that people form their expectations only by
a. looking forwards b. looking backwards. c. using all available information. d. using publicly available forecasts.
Financing an investment with debt ________ the net present value of the investment because interest payments ________ tax deductible and the full amount of the principal is due in ________.
A) decreases; are; the present time B) increases; are not; the future C) increases; are; present time D) increases; are; the future
How does technological advance affect the demand for labor?
Which of the following types of representation is relatively understudied?
A. formalistic B. descriptive C. substantive D. symbolic