The price of a good always changes when
A) either a shortage or a surplus occurs.
B) quantity demanded and quantity supplied are constant.
C) there is an increase in demand and an increase in supply.
D) there is a decrease in demand and a decrease in supply.
A
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If fewer families choose to purchase medical insurance because of rising health insurance premiums, then:
A. the frequency of illness in the general population will fall. B. those who remain insured will tend to spend less on health care. C. those who remain insured will tend to have lower-than-average rates of illness. D. those who remain insured will tend to have higher-than-average rates of illness.
Davis and Haltiwanger showed that ________ churning of jobs occurs and that this churning reflects closing of old plants and opening of new ones ________
A) little; in different industries B) little; within the same industry C) much; within the same industry D) much; in different industries
Under Keynesian analysis, aggregate demand can be written as
A) Yad = C + I + G + NX. B) Yad = C + I + G - NX. C) Yad = C - I - G - NX. D) Yad = C + I - G - NX.
In the case study discussed in the chapter, the electronics firm was actually enhancing its profits by selling calculators at a price that was below average cost
a. True b. False Indicate whether the statement is true or false