Between 1990 and 2003, college tuition went up 130 percent, which is __________ the increase in the prices of housing, gasoline, and medical care
A) slightly more than
B) less than
C) about the same as
D) considerably more than
D
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If the market price of gasoline were $4 a gallon and a ceiling price of $1.50 is imposed,
a. a surplus of gasoline occurs. b. a shortage of gasoline occurs. c. the price of gasoline would remain unchanged. d. the price of gasoline would increase.
Which of the following statements about health care is true?
a. The demand for health care is inversely related to price b. The demand for health care is positively related to price. c. Healthcare is an inferior good. d. Health care and health insurance is only provided by the government in the U.S. e. The supply of health care is inversely related to price.
Which of the following cost functions exhibits economies of scope over the specified output range?
A. C(Q1, Q2) = 10 + 0.5Q1Q2 + (Q1)2 + (Q2)2, for all Q1 < 3 and Q2 < 3. B. C(Q1, Q2) = 10 + 0.5Q1Q2 + (Q1)2 + (Q2)2, for all Q1 > 2 and Q2 > 2. C. C(Q1, Q2) = 10 + 3Q1Q2 +(Q1)2 + (Q2)2, for all Q1 > 4 and Q2 > 4. D. C(Q1, Q2) = 10 + 3Q1Q2 + (Q1)2 + (Q2)2, for all Q1 > 0 and Q2 > 0.
The following are commonly-used arguments for protection against imports, except:
A. Self-sufficiency and diversification-for-stability B. Protection against dumping C. Infant industry protection D. Price- and profit-maintenance