Participation in Part B of Medicare is
a. applicable to supplemental hospital payments.
b. applicable to nursing home stays
c. voluntary.
d. involuntary.
e. none of the above.
C
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On the eve of the Civil War, what was the number one export in the U.S.?
(a) Cotton (b) Wheat (c) Gold (d) Shipping services
For a firm to become a monopoly in an industry
A) barriers to entry must exist. B) the firm must charge higher prices than its competitors. C) the firm must produce a faulty product. D) the firm will engage in unfair practices to drive all competitors out of the market.
An advantage of a consumption tax is that it does not distort the incentive to save
a. True b. False Indicate whether the statement is true or false
A farmer has the ability to grow either corn or cotton or some combination of the two. Given no other information, it follows that the farmer’s opportunity cost of a bushel of corn multiplied by his opportunity cost of a bushel of cotton
a. is equal to 1. b. is greater than 1 but less than 2. c. is equal to 2. d. Not enough information is given to make this determination.