Approximately what percentage of total health care spending goes toward hospital care?
a. One-fifth
b. One-third
c. One-fourth
d. One-tenth
e. One-half
b. One-third
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Assume that Country A produces 60 tons of sugar using 6 productive units and that Country B produces 40 tons of sugar using 6 productive units. Assume further that Country A produces 120 tons of coffee using 4 units of production and that Country B produces 90 tons of coffee using 4 units of production. It follows that
a. Country A has a comparative advantage over Country B in the production of coffee. b. Country A has a comparative advantage over Country B in the production of coffee and sugar. c. Country A has a comparative advantage over Country B in the production of sugar. d. Country B has a comparative advantage over Country A in the production of sugar.
In the IO perspective it is important to enter an industry with
a. High supplier power b. Low threat from substitutes c. Low levels of rivalry between firms d. Only B & C
A production function may exhibit:
a. constant returns to scale and diminishing marginal productivities to all inputs. b. constant returns to scale and diminishing marginal productivities to all but one input, but at least one input must have a constant marginal productivity. c. constant returns to scale and diminishing marginal productivity to at most one input. d. constant returns to scale and diminishing marginal productivities for no inputs.
Which of the following best describes the idea of a political business cycle?
a. Politicians have a bias to cut taxes and increase government spending. b. Special interests result in alternating federal deficits. c. Politicians will use fiscal and monetary policy to cause output, real incomes, and employment to be rising prior to elections. d. Good intentions of politicians influence the business cycle.