Which of the following persons is most likely to be insured for health care?
A. A minimum-wage teenager working for a fast-food restaurant.
B. A skilled worker employed by a large multinational corporation.
C. An unemployed retail clerk.
D. A part-time groundskeeper for a small manufacturing plant.
Answer: B
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You have just opened a new Italian restaurant in your hometown where there are three other Italian restaurants
Your restaurant is doing a brisk business and you attribute your success to your distinctive northern Italian cuisine using locally grown organic produce. What is likely to happen to your business in the long run? A) If your success continues, you will be likely to establish a franchise and expand your market size. B) Your competitors are likely to change their menus to make their products more similar to yours. C) If you continue to maintain consistent quality, you will be able to earn profits indefinitely. D) Your success will invite others to open competing restaurants and ultimately your profits will be driven to zero.
Charles Murray points out that
A. despite substantial increases in the money that the federal government spent on antipoverty programs between 1968 and 1980, the poverty rate remained exactly the same. B. although federal spending on antipoverty programs fell substantially between 1968 and 1980, the poverty rate remained exactly the same. C. the only way to substantially reduce the welfare rolls is to enroll all the poor in job training programs that lead to well-paying jobs. D. despite the rising number of poor people in recent years, the federal antipoverty programs have been successful.
Gross output exceeds gross domestic product by
A. transfer payments between the governments and households. B. sales in underground or illegal markets. C. the total value of all used goods. D. the total value of business spending on intermediate inputs.
Humana Hospital's price/marginal cost ratio of 2.3 is most likely to decline if
A) the number of nearby hospitals increases. B) the number of nearby hospitals decreases. C) the demand curve for hospital services shifts rightward. D) the demand curve for hospital services becomes steeper.