Health care costs have been rising due to
A. an aging population.
B. third-party financing.
C. new technologies.
D. All of these are correct.
Answer: D
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________ refers to the reduction in economic surplus resulting from not being in competitive equilibrium
A) Producer atrophy B) Deadweight loss C) Economic shortage D) Marginal cost
Refer to Figure 11-14. Consider the following statements:
a. For each country, the marginal product per dollar spent on labor equals to the marginal product per dollar spent on capital. b. The price of labor is relatively higher in the United States than in China and the price of capital is relatively lower in the United States than in China. c. The price of labor and the price of capital are relatively higher in the United States than in China. Based on the figure, which of the statements above is true? A) All of the statements are true. B) statements b and c only C) statements a and c only D) statements a and b only
All consumption bundles along a given indifference curve are equally desirable
Indicate whether the statement is true or false
A "capitalist" is someone who:
A. owns stock. B. holds a treasury bond. C. opens a retirement account. D. All of these statements are true.