Opportunistic behavior is best described as a firm
A) gathering as much information as possible before dealing with another entity.
B) attempting to make a profit from its dealings with another entity.
C) firm trying to take advantage of another entity in its dealings with it.
D) selecting another entity to deal with.
C
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An import quota is similar to a ________ in its effect on imports, except that an import quota ________
A) tariff; does not generate revenue B) tariff; generates revenue C) subsidy; does not generate revenue D) subsidy; generates revenue E) tariff; does not result in an efficiency loss.
Congressional studies report that Medicare payments fall 11 percent below the cost of treating patients while private insurance patients pay 29 percent more than cost. This phenomenon is called
a. price discrimination. b. theMedigap. c. cost-shifting. d. cost-plus pricing. e. revenue enhancing.
Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500 . What are private saving and public saving?
a. 1,500 and -500, respectively b. 1,500 and 500, respectively c. 1,000 and -500, respectively d. 1,000 and 500, respectively
The portion that households spend of each additional dollar they receive is called the
A. marginal after-tax income. B. after-tax incentive. C. natural tendency to consume. D. marginal propensity to consume.