According to the textbook, Manning and his colleagues found that people with $1,000-deductible policies spent ______ on health care relative to people with first-dollar coverage.
A. 50 percent more
B. the same amount
C. 40 percent more
D. less
Answer: D
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Suppose that Adam and Sam each invest $5,000 in the same stock this year. Adam invests directly and earns 5% a year. Sam uses a retirement fund that charges an administrative fee and earns 4.75%. After 30 years, how much more money will Adam have than Sam?
a. $2,883.12 b. $2,526.78 c. $3,167.45 d. $3,044.62
Microeconomics is the study of
a) the economy as a whole. b) individual components in the economy. c) individual economic behaviour. d) both (b) and (c).
In a perfectly competitive market, if price is less than average total cost, but greater than average variable cost at the level of output where marginal cost equals marginal revenue:
A. the firm is earning positive economic profit. B. the firm is earning negative economic profit. C. the firm should shut down. D. We cannot determine whether the firm is earning positive or negative profits.
The more staggered are labor contracts,
A) the more rapidly the economy will adjust to changes in aggregate demand. B) the less rapidly the economy will adjust to changes in aggregate demand. C) the greater the inflationary effects of a given change in money growth in the medium run. D) the less inflationary effects of a given change in money growth in the medium run.