A decrease in the cost of inputs will shift the supply curve down and to the right.
a. true
b. false
Answer: a. true
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The economic impact of the multiplier is ____, and then becomes ____
a. slow, faster b. small, tiny c. large, smaller d. small, larger
Does it make any difference whether health-care expenditures are paid for by the consumer or by a third party (the government or an insurance company, for example)?
a. No; the quantity of health-care service demanded is not influenced by either the price of health care or who is paying for it. b. Yes; consumers of health care will have a stronger incentive to economize when they are buying the service with their own money. c. Yes; consumers of health-care services will have a stronger incentive to economize when the services are paid for by a third party. d. No; health care is an essential service, and therefore, the incentive to economize on it is unaffected by who is paying for the service.
We reject the null hypothesis of no effect if the p-value is typically
A. ? 1. B. ? 0.05. C. ? 0.5. D. ? 0.10.
If ten years ago the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket is $8 and the average hourly wage is $20, then
a. movies are now relatively cheaper in terms of work hours. b. movies are now relatively more expensive in terms of work hours. c. the relative price of movies has remained constant. d. workers now need to work longer hours to earn one movie ticket.