As the Medicare program is expanded to cover the cost of prescription drugs for the elderly, other things constant, this will lead to
a. an increase in demand and higher prices for prescription drugs.
b. an increase in demand and lower prices for prescription drugs.
c. reduction in demand and lower prices for prescription drugs.
d. reduction in demand and higher prices for prescription drugs.
A
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What is the general relationship between race and unemployment rates in the United States?
A. Hispanics have the lowest rate of unemployment; whites have the highest rate of unemployment. B. Whites have the lowest rate of unemployment; Hispanics have the highest rate of unemployment. C. Hispanics have the lowest rate of unemployment; blacks have the highest rate of unemployment. D. Blacks have the lowest rate of unemployment; Hispanics have the highest rate of unemployment. E. Whites have the lowest rate of unemployment; blacks have the highest rate of unemployment.
Which of the following is false?
a. Long run equilibrium in monopolistic competition results in zero economic profits b. Monopolistic competitor's demand curves are likely to be more elastic than those of monopolists. c. Monopolistic competition results in a greater variety of products than perfect competition. d. Monopolistic competition's zero economic profit long run equilibrium is efficient, like the zero profit equilibrium in perfect competition.
The profit-maximizing firm will operate at an output of ______.
A. OI
B. OJ
C. OK
D. OL
The CEO of Dynadyne corporation has been more concerned with enhancing his lifestyle by having the company pay for expensive corporate retreats than he has been with increasing the value of the company's stock. In this situation, the CEO is ________ and
the stockholders are ________. A) the principal; the agents B) the agent; the principals C) an agent; also agents D) a principal; also principals