Suppose robotic technology improves the results of abdominal surgery - less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact of this new technology on the market for abdominal surgery?
a. Demand for robot-assisted surgery will increase, and prices will fall.
b. Demand for robot-assisted surgery will increase, and prices will rise.
c. Hospitals will be slow to adopt the new technology fearing that it may result in lower prices.
d. The demand for surgical assistants will increase.
e. Increased demand will result in lower prices.
b. Demand for robot-assisted surgery will increase, and prices will rise.
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In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted jobs. What is the unemployment rate in this town?
A. 10.0% B. 14.5% C. 11.0% D. 13.7 %
In the short run, a change in the equilibrium price will
A) always lead to inflation. B) cause a shift in the demand curve. C) cause a shift in the supply curve. D) cause a change in the quantity demanded or supplied.
Which of the following does not constitute a household consumption item?
a. A pair of jeans b. A bottle of Beck's beer c. A haircut d. A steam turbine electric generator e. A packet of breakfast cereal
In 2013, ____ percent of college degrees were earned by women
a. 27 b. 37 c. 47 d. 57