In the United States, health care spending on people ________ is six times greater than on people ________
A) under age 3; over age 65
B) aged 18 to 24; 25 to 44
C) over age 65; aged 18 to 24
D) over age 65; aged 25 to 44
Answer: C
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Assume that coffee and tea are substitutes. Given a downward sloping demand curve for tea, an increase in the price of tea will cause
A) an increase in the demand for coffee. B) a decrease in the demand for coffee. C) a leftward shift of the demand curve for tea. D) a leftward shift in the demand for coffee.
Sellers in competitive price-searcher markets
a. face competition both from existing firms and potential new entrants. b. face competition from existing firms but not from potential new entrants. c. face competition only from potential new entrants and only in the long run. d. can compete only by product quality since product prices are set by market forces.
Each property has unique features, whether it is its age, the building design of its structures, or its location. As such, real estate markets consist of assets that are considered:
A. homogeneous B. heterogeneous C. substitutes D. complements
One plausible explanation for the large amount of U.S. currency outstanding is that many dollars are held abroad
a. True b. False Indicate whether the statement is true or false