Which of the following is not a common practice of Japanese physicians?
a. Performing an unusually large number of surgeries
b. Dispensing medicine to their patients
c. Seeing a large number of patients daily
d. Discharging patients from the hospital after relative short average stays
e. Accepting gifts of appreciation from their patients for special service
d. Discharging patients from the hospital after relative short average stays
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Carefully define the following terms, and explain their importance in economics. a. Opportunity cost b. Abstraction c. Theory d. Model e. Marginal analysis
What will be an ideal response?
Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Over the past five years, the population growth rate in Kabir’s country has been rising rapidly. How is this most likely impacting the country’s capital stock?
a. Capital stock per worker is increasing. b. Capital stock per worker is fluctuating rapidly. c. Capital stock per worker is declining. d. The population growth rate is not affecting the country’s capital stock.
Accounting profits are found by total revenues minus
A. explicit and implicit costs. B. implicit costs. C. explicit costs. D. all opportunity costs.