According to the textbook, in 2011 the top 1 percent of income earners in the U.S. earned more than $388,905
Indicate whether the statement is true or false
True
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Glendale Medical Care and Research Center? (GMCRC) offers advanced scientific treatment to the patients suffering from neurological cancer. The treatment plan offered by the hospital is relatively cost effective compared to similar treatments provided by the other medical centers.? However, the hospital management observes that the number of patients who receive neurological cancer treatment at GMCRC each quarter is much lower compared to the other hospitals. Which of the? following, if? true, would explain this? outcome?
A. GMCRC is the only hospital in the neighborhood that provides targeted therapy, in addition to radiation therapy and chemotherapy. B. Recent research on neurological cancer reveals that the incidence of this disease has increased during the last few years. C. GMCRC andother local hospitals tend to choose doctors from both international and national medical schools. D. The bulk of the treatment cost for neurological cancer is borne by the health insurance companies. E. Neurological cancer is not among the most common forms of cancer.
Which of the following statements is true?
A) If the supply of labor exceeds the demand for labor, wage rates tend to rise. B) There is no voluntary unemployment at the equilibrium wage rate. C) If the demand for labor exceeds the supply of labor, wage rates tend to fall. D) Lack of information relating to the job market can lead to unemployment.
When the firm in the figure above maximizes its profit, it earns an economic profit of
A) $3,125. B) $6,250. C) $9,375. D) $5,625. E) None of the above answers are correct because the firm incurs an economic loss.
Which of the following does not explain why consumers buy products that many other consumers are already buying?
A) cost-effective way to gather information about a product B) the satisfaction people derive by being viewed as "fashionable" C) differences in tastes and preferences D) technology