Roughly what portion of U.S. total health spending is paid for by private and public insurance?
A. One-tenth.
B. One-fourth.
C. Four-fifths.
D. One-half.
Answer: C
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Refer to Table 2-4. What is George's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated. D) one and a half lawns mowed
Why did the Fed step in to organize a rescue for Long Term Capital Management (LTCM) in September, 1998, rather than simply letting the trouble fund fail? Was the Fed's action necessary or advisable?
What will be an ideal response?
If a firm's demand curve is perfectly elastic, then at the profit-maximizing level of output
A. P > 0 and MR = 0. B. P < MR < MC. C. P > MR > MC. D. P = MR = MC.
The real-nominal principle states that
A) what matters to people is the face value of money or income. B) people respond more to explicit, or real, costs than to implicit costs. C) people respond more to implicit costs than to explicit costs. D) what matters to people is the purchasing power of money or income.