The Children's Health Insurance Program was created in the
A. 1960s.
B. 1980s.
C. 1990s.
D. 1940s.
Answer: C
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Refer to Figure 7.1. In this case, the property rights belong to
A) Angus. B) Dudley. C) no one. D) both Angus and Dudley.
An exchange rate is
A) the price of one currency in terms of another. B) the monetary value of goods and services exchanged for imports. C) the amount of gold a currency will buy. D) All of the above.
If a perfectly competitive market is in equilibrium and then market demand increases, which of the following would happen?
a. producer surplus would definitely increase and consumer surplus may increase or decrease b. producer surplus would definitely decrease and consumer surplus may increase or decrease c. consumer surplus would definitely decrease and producer surplus may increase or decrease d. consumer surplus would definitely increase and producer surplus may increase or decrease e. producer and consumer surplus would remain unchanged
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each. Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 50 pizzas a day, its average variable cost is ________.
A. $20 B. $10 C. $5 D. $15