The figure above shows the market for annual influenza immunizations the United States. If there is NO external benefit from health care and the government does not intervene in the market, then the equilibrium price of immunizations is
A) $30.
B) $20.
C) $40.
D) $60.
E) $70.
A
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Financing government spending by selling bonds to the public, which pays for the bonds with currency,
A) leads to a permanent decline in the monetary base. B) leads to a permanent increase in the monetary base. C) leads to a temporary increase in the monetary base. D) has no net effect on the monetary base.
A subsidy on a product will generate more actual benefit for consumers (and less for producers) when
a. the supply of the product is relatively inelastic. b. the supply of the product is relatively elastic. c. the demand for the product is relatively elastic. d. either a or c is true.
Which of the following is true of the management function of directing/leading? Group of answer choices
a. All managers are involved in directing/leading, but it is most important for top- level managers. b. Directing/leading designs the map that lays the groundwork for the other managerial functions. c. Good directing/leading does not require the implementations of deadlines. d. Directing/leading involves determining and administering appropriate rewards and recognition e. Telling employees what to do and when to do it is against the principles of directing/leading.
Related to the Economics in Practice on p. 83: The true cost of the Shakespeare in the Park tickets is
A. the cost to put on the performance. B. $0 plus the opportunity cost of the time spent in line. C. zero. D. the additional cost to the city of extra security.