In the United States, health care spending on people over age 65 is ________ on people aged 18 to 24
A) six times greater than B) twice as much as
C) forty times greater than D) one third as much as
A
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Taxing the market for alcohol at the same rate as the market for juice will likely:
A. raise more revenue. B. cause more inefficiency. C. cause a very big reaction in terms of decreased quantity demanded. D. produce very similar results in terms of revenue and inefficiency because the rate is the same.
In the long run, if the prices of goods and services paid by consumers increase the long-run aggregate:
A. supply will increase. B. supply will decrease. C. supply will stay the same. D. demand will increase.
If there is just one producer in an industry where the average total cost curve declines throughout the output range up to where it intersects the industry demand curve: a. the industry will be a natural monopoly
b. charging a price equal to marginal cost would entail economic losses for the producer. c. charging a price equal to average cost would entail a welfare cost. d. All of the above would be true.
How feasible would it have been for the U.S. president and/or Congress to use fiscal measures to combat the 1990–1991 recession?
What will be an ideal response?