The gross domestic product of Solvasa, a small island country, is U.S. $68 billion. The adult population of the country is 8.70 million and 11.3 million citizens are below 18 years of age. The output per capita of Solvasa is approximately equal to _____
a. $7,800
b. $3,400
c. $6,017
d. $5,201
e. $6,950
b
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Refer to Figure 7-5. With insurance and a third-party payer system, what price do doctors receive for medical services?
A) $40 B) $55 C) $65 D) > $65
According to public choice theory, which of the following groups will likely benefit the most from government income transfers under a system of representative democracy?
a. the poor b. consumers c. small businesses d. concentrated interest groups
The free rider problem is caused by the:
A. "rivalness" in consumption of a good leading to the undersupply of it. B. incentive to oversupply the good since it is nonrival in consumption. C. nonexcludability of a good leading to the undersupply of it. D. "rivalness" in consumption of a good leading to the overconsumption of that good.
The unemployment rate tells us:
A. the number of people who really don't want to work. B. why the unemployed can't find work. C. what percentage of the labor force wants to work and can't find a job. D. who is currently unemployed.