Suppose that in a month the price of a liter of soda increases from $1 to $1.50. At the same time, the quantity of liters of soda supplied increases from 200 to 210. The price elasticity of supply for liters of soda (calculated using the initial value formula) is:
A. 0.1.
B. 0.5.
C. 10.
D. 20.
Answer: A
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According to the Manning study, people with $1,000-deductible health care coverage had:
A. worse health outcome than those with first-dollar coverage. B. the same health outcomes as those with first-dollar coverage. C. better health outcomes than those with first-dollar coverage. D. worse health outcomes than those with no insurance coverage.
Price increases always reduce economic efficiency.
Answer the following statement true (T) or false (F)
A testable proposition that predicts how people will react to changed circumstances is called a hypothesis
a. True b. False Indicate whether the statement is true or false
Why do people specialize?
A) Specialization allows people to do a variety of job tasks. B) Specialization usually increases productivity. C) Specialization decreases people's dependence on each other. D) Specialization occurs when people do not want to learn new tasks.