National health care programs are not as effective as they could be because:
A. public health care clinics often run out of important drugs.
B. health care providers tend to have a low absentee rate.
C. many doctors in clinics do not have sufficient knowledge to properly diagnose patients.
D. doctors rarely diagnose below their knowledge frontier.
Answer: A
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A firm's total revenue is $400 for 8 units of output, $600 for 12 units of output, and $1,100 for 22 units of output. Evidently this firm is operating in a(n):
a. perfectly competitive market. b. monopolistic market. c. monopsonist market. d. monopolistically competitive market. e. oligopolistic market.
Suppose that the firm's only variable input is labor. When 50 workers are used, the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. Suppose that installation of a new assembly line increases the output produced per worker. The cost per unit of output
A. will increase. B. will be unchanged. C. will decrease. D. is at its maximum. E. is at its minimum
The actual and cyclically adjusted budgets will be equal when:
A. the rate of inflation is zero. B. the economy is at full employment. C. taxes have no effect on fiscal policy. D. the balanced-budget multiplier is 1.
Which industry would be best characterized as monopolistic ally competitive?
A. Smart-phone manufacturing B. Internet-search sites C. Web design consulting D. Business cloud-computing services