The average total cost curve of a firm is U shaped.
Answer the following statement true (T) or false (F)
True
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The demand for houses decreases, all else equal, when
A) wealth increases. B) real estate prices are expected to increase. C) stock prices become more volatile. D) gold prices are expected to increase.
An example of third-party financing of health care is
A) patients paying for their visit to the doctor. B) patients not going to the doctor in order to save money. C) a patient going to another doctor for a second or a third opinion. D) Medicare.
Which of the following are justifications for running a budget deficit?
a. stabilizing the economy during a recession b. future generations will benefit from some current expenditures c. both a and b d. neither a nor b
The solvency of Social Security can be extended if
A. the trust fund invests in government bonds. B. the retirement age is reduced. C. the cap on taxable earnings is lowered. D. the tax rate is increased.