An increase in aggregate demand results in
A) a higher unemployment rate and a lower price level.
B) a decrease in real GDP and a decrease in the price level.
C) a lower unemployment rate and a lower price level.
D) an increase in real GDP and a decrease in the price level.
E) a lower unemployment rate and a higher price level.
E
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If the demand for steak increases as income increases, then steak is a(n):
A. normal good. B. substitute good. C. inferior good. D. complementary good.
One method of measuring the extent of a firm's market power is
A. price elasticity of demand for the firm's product. B. the Lerner index. C. income elasticity of demand for the firm's product. D. both a and b E. all of the above
Total revenue is the amount:
A. of sales that get reinvested in the firm. B. a firm receives from the sale of goods and services. C. a firm receives from dividends. D. a firm keeps after all expenses are paid.
Which of the following is a part of the "employer mandate" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Every firm with more than 3 full-time employees must offer health insurance to its employees and must automatically enroll them in the plan. B) Small businesses with fewer than 50 employees are exempt from being required to participate in the program. C) Firms with 50 or more full-time employees must offer health insurance or pay a fee up to $3,390 to the federal government for every employee who receives a tax credit from the federal government for obtaining health insurance through a health insurance marketplace. D) Every resident of the United States must have health insurance that meets certain basic requirements.