After much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events would prompt you to reverse this decision?
a. The marginal benefit of going to Spain increases.
b. The marginal cost of going to Spain increases.
c. The marginal benefit of going to Ireland increases.
d. The marginal cost of going to Ireland decreases.
a
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All else equal, the amount of waste caused by full health insurance is:
A. larger the higher is the price elasticity of demand for medical services. B. larger the lower is the price elasticity of supply for medical services. C. smaller the higher is the price of medical services. D. larger the lower is the price elasticity of demand for medical services.
Which one of the countries below announces inflation targets?
A) Japan B) U.S. C) Canada D) Mexico E) Nicaragua
The above figure shows the cost curves for a typical firm in a market and three possible market supply curves. If there are 100 identical firms, the market supply curve is best represented by
A) curve A. B) curve B. C) curve C. D) either curve A or B, but definitely not C.
As a society produces more and more of one good, it must give up increasing amounts of the alternative good. This demonstrates the
a. law of demand b. convexity of the production possibilities frontier c. law of increasing opportunity cost d. principle of productive inefficiency e. effects of shifts in the level of technology