Most Americans receive their health care:
a. as a consequence of military service.
b. from Medicare.
c. from employer based insurance.
d. by direct purchase.
Ans: c. from employer based insurance.
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In the figure above, suppose the original budget line is BD. A rise in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
An association of producers in an industry that agree to set common prices and output quotas to prevent competition is
A) a tariff. B) a patent. C) economies of scale. D) a cartel.
If aggregate expenditures exceed real GDP, then:
a. employment falls. b. the economy will have deflation. c. firms are depleting their inventories. d. the money supply will increase.
Figure 11-2
For the monopolist show in Figure 11-2, how much profit is the monopolist making per unit?
A. The amount shown as HE B. The amount shown as GE C. The amount shown as HF D. The amount shown as FE