Which of the following statements is not true according to the National Center for Health Statistics?
a. Almost 15 percent of all Medicaid spending is attributable to tobacco use of one kind or another.
b. Alcohol- and smoking-related illnesses are associated with over 500,000 deaths annually.
c. Smoking prevalence among 18-24-year-olds is rising.
d. The average smoker in the U.S. has a life expectancy that is almost 10 years shorter than the average non-smoker's.
e. There is very little difference in the prevalence of smoking between males and females worldwide
e. There is very little difference in the prevalence of smoking between males and females worldwide
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Which of the following markets comes closes to the model of perfect competition?
A) automobile industry B) information technology industry C) aerospace industry D) agriculture
Which of the following is the LEAST scarce?
A) college education B) medicine C) housing D) air
Entry by new firms into a perfectly competitive industry
A. has no effect on existing firms. B. results in higher output by existing firms in equilibrium. C. results in lower output by existing firms in equilibrium. D. results in no change in the market price or output.
Managers of profit centers earn more when their divisions
a. increase their sales and decrease their costs a. decrease their sales and increase their costs b. increase the costs of the components for which they are responsible c. none