All else equal, the amount of waste caused by full health insurance is:
A. larger the higher is the price elasticity of demand for medical services.
B. larger the lower is the price elasticity of supply for medical services.
C. smaller the higher is the price of medical services.
D. larger the lower is the price elasticity of demand for medical services.
Answer: A
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The potential for a financial breakdown at one financial institution to spread throughout the financial system is known as a
A) lending risk. B) systemic risk. C) moral hazard. D) liquidity risk.
The nominal rate of protection shows the extent to which the domestic price of imported goods exceeds
(a) what the price would be without tariffs. (b) the cost of intermediate inputs. (c) the social opportunity costs of the good. (d) the no-trade equilibrium price.
One major feature of the economic perspective is:
A. that costs are more important than benefits. B. that scarcity is more important than choice. C. the idea that the economy has unproductive resources. D. the assumption of purposeful behavior by individuals.
Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. The marginal cost of the seventh drone is
A. $2.86. B. $3.33. C. $20. D. indeterminate from this information.