If your competitors will follow your price cuts and ignore price hikes, your firm
A. faces perfect competition.
B. faces a kinked demand curve.
C. is the marginal price leader of an oligopoly.
D. must be the most efficient firm in the industry.
B. faces a kinked demand curve.
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Which of the following is NOT directly related to human capital?
A) a summer internship B) an MRI machine C) an understanding of real estate markets D) a college education E) knowledge of computer programing
Like the human body, an economy is made up of many small, specialized, interactive parts; like blood circulates in a human body, money circulates through an economy, providing necessary resources for both households and firms
Indicate whether the statement is true or false
Hard currencies are usually ________.
A) not fully convertible B) undesirable assets C) highly liquid D) unstable
Answer the following questions true (T) or false (F)
1. Health care spending per person is lower in the United States than in most other high-income countries. 2. In the United States, health care spending as a percentage of GDP has declined since 1965. 3. As a percentage of GDP, health care spending on Medicare and Medicaid is expected to double over the next 40 years unless health care costs begin to grow at a slower rate.