Comparing the American healthcare system with that of other industrial nations, which of the following statements is true?
A. Childhood-immunization rates in the U.S. are lower than average.
B. Infant mortality rates are higher than in 80 percent of the other countries.
C. We have fewer doctors per capita and have fewer doctor visits per year.
D. All of the statements are true
D. All of the statements are true
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Diminishing marginal returns occur when
A) the average product of the variable input eventually diminishes. B) the marginal product of an additional worker is less than the marginal product of the previous worker hired. C) the firm hires cheap, less-skilled workers in place of expensive, high-skilled workers. D) total product diminishes.
In the above figure, the distance between A and B represents this monopoly firm's
A) total profit. B) total revenue. C) average profit per unit. D) average cost per unit.
Utility theory assumes that marginal utility:
a. increases as an individual consumes more of a product. b. decreases as an individual consumes more of a product. c. is zero as long as the individual derives utility from the product. d. is constant as long as the individual derives utility from the product. e. is constant as long as the individual derives satisfaction from the product.
When the FDIC took over the Chicago-based Continental Illinois Bank, it
a. refused to guarantee any of the bank's deposits even though the bank was insured by FDIC because the bank had engaged in illegal practices b. covered its deposits before allowing the bank to be taken over by the Treasury c. allowed Continental to fail in order to set an example to other banks that engaged in overly risky loan ventures d. sold Continental at a bargain price to Citibank e. announced it would cover every deposit—without limit—to keep Continental alive