Holding all other personal characteristics-such as age, gender, and income-constant, economists would expect that
A) people without health insurance will be less likely to be overweight than people with health insurance.
B) people without health insurance will be more likely to be overweight than people with health insurance.
C) people without health insurance will be equally likely to be overweight as people with health insurance.
D) there is no correlation between not having health insurance and being overweight.
Answer: A
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In the United States, the productive factor that, as a group, receives the largest fraction of the nation's total income is
A) labor. B) consumption goods and services. C) land. D) entrepreneurshi
Which of the following is not primarily a function of the federal government
a. national security b. higher education c. economic stability d. market competition e. all of the above are functions of the federal government
In a duopoly situation, the logic of self-interest results in a total output level that
a. equals the output level that would prevail in a competitive market. b. equals the output level that would prevail in a monopoly. c. exceeds the monopoly level of output, but falls short of the competitive level of output. d. falls short of the monopoly level of output.
How is monopolistic competition different from a monopoly?
a. Monopolistic competition has difficult entry; a monopoly has easy entry. b. A monopoly has strong control over a product; monopolistic competition has little control over a product. c. Monopolistic competition has similar (but not identical) brands; a monopoly has one brand. d. A monopoly has zero long-run economic profits; monopolistic competition has high long-run economic profits.