The health care system in Japan is referred to as ________, under which every resident of Japan is required to enroll in either a private, or the government-provided, health insurance program
A) an out-of-pocket system
B) a single-payer health care system
C) a universal health insurance system
D) socialized medicine
Answer: C
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Refer to Figure 9.2. A movement from point c to point a could be caused by a(n)
A) decrease in government spending. B) increase in the price of oil. C) decrease in taxes. D) decrease in short-run aggregate supply.
Assume an auto firm's factories are capable of producing both large and small cars and are operating at full capacity. Assume the price of large cars increases due to a shift in consumers' preferences toward large cars and away from smaller cars
What would reasonably be expected to happen to the equilibrium price and quantity of the firm's small cars? A) Equilibrium price would increase and equilibrium quantity would decrease. B) Equilibrium price and quantity would both decrease. C) Equilibrium price would decrease and equilibrium quantity would increase. D) Equilibrium price and quantity would both increase.
Which statement best describes a capitalist economy?
a. The production and allocation of goods and services is determined primarily through government b. The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government c. The production of goods and services is determined primarily by government, but the allocation of goods and services is determined primarily by markets d. The production and allocation of goods and services is determined primarily through markets
Which of the following is an effect of an increase in the price level in an economy?
What will be an ideal response?