Which of the following is a stock variable? The number of
A) unemployed people.
B) reentrants.
C) job losers.
D) job leavers.
A
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The slope of the _________________ is determined by the relative price of the two goods, which is calculated by taking the price of one good and dividing it by the price of the other good.
A. Opportunity cost B. productive efficiency C. budget constraint D. production possibilities frontier
Which of the following is an accurate argument in support of market power?
A. It contributes to efficient production when there are diseconomies of scale. B. It restricts output and raises prices, contributing to more efficient use of resources. C. It provides greater ability to fund research and development. D. It provides the economic profit necessary for survival and efficient production in a market.
Relative to people who are eligible for group health insurance, individuals who are not covered by a group health insurance plan tend to pay:
A. More for health insurance regardless of their health condition. B. More for health insurance if they are unhealthy and less for health insurance if they are healthy. C. Less for health insurance regardless of their health condition. D. Less for health insurance if they are unhealthy and more for health insurance if they are healthy.
How does a positive externality in consumption reduce economic efficiency?
What will be an ideal response?