Answer the following statements true (T) or false (F)
1) There is a consensus among economists that the amount of resources allocated to the health
care industry is optimal.
2) Some employers have reacted to rising health care costs by hiring more part-time and
temporary workers.
3) About three-fourths of all health care costs are paid out of pocket by patients.
4) In 2011, some 49 million Americans did not have health insurance.
1) F
2) T
3) F
4) T
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The motel whose costs are given in the table above has total fixed costs equal to
A) $0. B) $100. C) $200. D) $201.
All points on a demand curve are optimal consumption points
a. True b. False Indicate whether the statement is true or false
"Final goods and services" are those that are
A) sold to ultimate or final purchasers. B) produced outside the United States. C) double counted in the calculation of GDP. D) used in the production of other goods and services.
A legal restriction on the amount of a good that can be imported into a country is known as a
A) voluntary restraint agreement. B) tariff. C) quota. D) Domestic Protection Restraint (DPR).