When competition is present, self-interested business decision makers have a strong incentive to
a. produce efficiently.
b. ignore the wishes of customers who are also self-interested.
c. adopt technological improvements slowly in order to avoid making wrong decisions
d. maximize price in order to maximize profits.
A
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In Japan, residents pay for most routine and preventive medical care
Indicate whether the statement is true or false
If prices rise by 4% in a year and nominal wages increase by only 2%, then real wages will
A. increase by 2%. B. decrease by 4%. C. decrease by 2%. D. decrease by 6%.
A market in which businesses, households, and governments buy and sell national currencies is
A) the foreign exchange market. B) the currency exchange market. C) the money exchange market. D) the dollar exchange market.
Holding all other personal characteristics-such as age, gender, and income-constant, economists would expect that
A) people with health insurance are less likely to be overweight than people without health insurance. B) people with health insurance are more likely to be overweight than people without health insurance. C) people with health insurance are equally likely to be overweight as people without health insurance. D) there is no correlation between having health insurance and being overweight.