The British National Health System has been "reformed"
a. twice.
b. three times
c. four times
d. five or six times
e. never.
D
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Net utility is
A. equal to total utility from the quantity acquired of a good minus the utility lost by having to pay for it. B. equal to the sum of the marginal utilities. C. equal to an optimal number easily calculated by the consumer. D. always greater than total utility.
A positive income elasticity of demand for a good means: a. it is a substitute
b. it is a complement. c. it is a normal good. d. it is an inferior good.
Erbia can produce both corn and wheat using fewer inputs than Glassen; however, Glassen can produce corn at a lower opportunity cost than Erbia. Therefore, we can conclude that Glassen has a comparative advantage in wheat production
a. True b. False Indicate whether the statement is true or false
If the firm were a perfect competitor in the long run, how much would its output be?
