The health care system in the United States is referred to as ________, a system where private doctors and hospitals provide almost all health care services
A) a single-payer system
B) a universal health insurance system
C) socialized medicine
D) a private health care system
D
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Other things remaining the same, which of the following is likely to happen if there is a decrease in the price of flour products?
A) There will be a decrease in both the wage rate and the employment levels in the flour industry. B) There will be an increase in both the wage rate and the employment levels in the flour industry. C) There will be an increase in the wage rate and a decrease in the employment levels in the flour industry. D) There will be a decrease in the wage rate and an increase in the employment levels in the flour industry.
Let D = demand, S = supply, P = equilibrium price, Q = equilibrium quantity
What happens in the market for sushi if the Surgeon General announces that a majority of the raw fish that is imported to make sushi contains high levels of toxic mercury? A) D decreases, S no change, P and Q decrease B) S decreases, D no change, P increases, Q decreases C) D no change, S increases, P decreases, Q decreases D) D and S decrease, P and Q decrease
Which of the following explains why economic choices must be made?
a) The factors of production are used inefficiently. b) The factors of production are scarce. c) The factors of production are expensive. d) The factors of production are of inferior quality.
Which of the following would represent a systematic error?
A. Eddie regularly overspends, but friends and family bail him out so he always ends up with what he wants. B. Ellen paid good money for a used car that is in constant need of repair. C. Sparky determines that he has to reduce donut consumption to lose weight but always ends up eating the ones provided in the break room at work. D. Clark makes regular math errors at work, sometimes coming out with figures too high, other times too low.