Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. The opportunity cost of 1 ________ is 4 ________ in the United States and 1.5 ________ in England.
A. car; cars; trucks
B. car; trucks; trucks
C. truck; cars; cars
D. truck; trucks; cars
Answer: C
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M1 differs from M2 because ________
A) M2 includes components that are less liquid than any component of M1 B) M1 does not include savings deposits and M2 does C) M1 is included in M2 but M2 has more components D) all of the above E) none of the above
Indifference curves are convex to the origin because of:
A) transitivity of consumer preferences. B) the assumption of a diminishing marginal rate of substitution. C) the assumption that more is preferred to less. D) the assumption of completeness. E) none of the above
Answer the following questions true (T) or false (F)
1. "The distribution of income should be left to the market" is an example of a positive economic statement. 2. Positive analysis is concerned with "what ought to be," while normative analysis is concerned with "what is." 3. "A decrease in the price of tablet computers will decrease the demand for desktop computers." This statement is an example of a normative economic statement.
How does the PPACA cover those individuals without health insurance and the poor?
What will be an ideal response?