Which of the following statements about medical care costs is true?
A. In the United States, workers are taxed on company-funded medical care expenses.
B. In the last decade, medical care costs have risen more slowly than the overall rate of inflation.
C. Third-party payers have been able to force large reductions in medical expenses.
D. Medical care costs per person have risen faster than income per person.
Answer: D
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Alex has allocated his income in such a way that the marginal utility of the last unit of product X he consumes is 40 utils and that of the last unit of Y is 16 utils. If the unit price of X is $5, then the price of Y must be
A. $1 per unit. B. $3 per unit. C. $2 per unit. D. $4 per unit.
Only long-run changes in output can be brought about by unexpected change in policy
a. True b. False Indicate whether the statement is true or false
A shift of the U.S. demand curve for Mexican pesos to the left and a decrease in the pesos price per dollar would likely result from:
a. an increase in the U.S. inflation rate relative to the rate in Mexico. b. a change in U.S. consumers' tastes away from Mexican products and toward products made in South Korea, India, and Taiwan. c. U.S. buyers perceiving that domestically-produced products are of a lower quality than products made in Mexico. d. All of the answers are correct.
If resource prices are fixed and the selling price rises, then
A. profits will decrease. B. profits will increase. C. profits will remain constant. D. both profits and output will decrease.