If the annual interest rate is 5 percent,
a. $100 saved today will be worth $105 after one year
b. $90 saved today will be worth $100 after one year
c. $100 saved today will be worth $5 after one year
d. $99 saved today will be worth $100 after one year
e. $100 saved today will be worth $1,000 after one year
A
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In 2008, the state of Oregon used a lottery to extend Medicaid coverage to an additional 10,000 residents (often called the Oregon Experiment). Two years after enrollment, the lottery winners (the treatment group):
a. had lower overall health care spending. b. experienced an increase in the probability of receiving a diagnosis of diabetes and the use of drugs to control the condition. c. had significant improvement in their quality of life measured by blood pressure, cholesterol, and blood sugar levels. d. had fewer emergency room visits than those who lost the lottery (the control group). e. had lower predicted risk of cardiovascular episodes.
The status quo bias implies that:
A. people are restricted in their choices. B. people are biased toward making a mistake. C. people do not like making changes. D. people's actions often are influenced by what they perceive as the default choice.
An example of price discrimination is charging more for steak than for a hamburger.
a. true b. false
A patent is
A. a recognizable right to the profits associated with a new product or new way of making goods granted by business associations. B. the right to make a product and sell it at a reasonable price. C. a government protection that gives an inventor the exclusive right to the invention for a limited time period. D. a government protection that gives an inventor the exclusive right to the invention for an unlimited time period.