In 2016, ________ percent of people enrolled in health insurance marketplaces had a choice of at least three insurance companies from which to buy a policy. By 2017, ________ percent had that choice
A) 85; 57
B) 98; 18
C) 66; 79
D) 72; 88
Answer: A
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When the aggregate demand curve shifts ________ than the long-run aggregate supply shifts rightward, the result will be inflation
A) rightward at a faster rate B) leftward at a slower rate C) leftward at the same rate D) rightward at a slower rate
The price of crude oil rose to over $100 per barrel in early 2013. What would we expect to see happen to the supply of plastic, which is produced using crude oil?
A) The supply of plastic will increase. B) The supply of plastic will decrease. C) The supply of plastic will stay the same because the government requires plastic producers to meet statutory minimum production levels. D) The supply of plastic will stay the same because of the profit motives of plastic producers.
The long-run average cost curve is tangent to the minimum point of every short-run average total cost curve
a. True b. False
If two goods are close substitutes:
a. Consumers will always buy the one that has the lower price b. An increase in the price of one causes the demand for the other to decrease c. A decrease in the price of one causes an increase in the demand for the other d. A fall in the price of one will decrease the demand for the other