The U.S. spends _____ percent of our GDP on health care, while Canada spends ______ percent of their GDP on health care.
Fill in the blank(s) with the appropriate word(s).
16; 10
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Suppose the United Automobile Workers union agrees to accept lower wages for members if the automobile manufacturers lower their prices to buyers
Will the UAW's measures usually result in a larger number of cars being sold and hence more jobs for UAW members? A) No, because people only buy new cars when they need them. B) Not if the price elasticity of demand for new cars turns out to be less than one. C) Only in the unlikely event the demand for new cars is unit elastic. D) Probably not, because new car sales depend on advertising. E) Yes.
The first federal antitrust law ever passed was the Sherman Act
Indicate whether the statement is true or false
Which of the following is false?
A. Even if a corporation is not currently issuing bonds, you could still buy a bond directly from the corporation. B. Bonds that are rated AAA from Standard and Poor's have received the highest rating possible. C. A bond that is rated in the D category indicates that the bond issuer cannot pay off the bond. D. It is possible to buy a bond from someone who purchased and still holds the bond he bought from the corporation at an earlier date.
Consider Figure 12.3. Relative to the dominant strategy outcome, guaranteed price fixing would lead to:
A. lower prices but higher profits. B. lower prices and lower profits. C. higher prices and higher profits. D. higher prices and lower profits.