Which of the following is a subject that economists study?
a. the growth in average income
b. the fraction of the population that cannot find work
c. the rate at which prices are rising
d. All of the above are correct.
d
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The American Medical Association is responsible for many of the characteristics of the modern health care delivery system
a. True b. False
Does economic growth have any negative side effects?
A. Yes, but only for the poorest segment of a nation's population B. No. Every person in a nation experiencing economic growth will benefit. C. No, because where negative side effects do occur, a nation's government is required to neutralize them D. Quite possibly. Some say economic growth puts people on a never-ending quest to satisfy newly created wants, so we always feel disappointed with our lives.
If a price ceiling is set above the current market clearing price, then
A) a surplus must immediately occur. B) a shortage must immediately occur. C) there will be incentives for black markets to develop. D) quantity demanded will remain equal to quantity supplied at the current market clearing price.
Which of the following statements is most accurate? a. If something is rare it is also has to be scarce
b. Scarcity can and will be eliminated in the short run. c. Scarcity can and will be eliminated in the long run. d. Scarcity cannot be eliminated in any time frame.