If fewer families choose to purchase medical insurance because of rising health insurance premiums, then:
A. the frequency of illness in the general population will fall.
B. those who remain insured will tend to spend less on health care.
C. those who remain insured will tend to have lower-than-average rates of illness.
D. those who remain insured will tend to have higher-than-average rates of illness.
Answer: D
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The demand for labor depends primarily on the additional output produced as a result of hiring an additional worker and
A) the additional revenue received from selling the output produced as a result of hiring an additional worker. B) the payment made to the worker for producing the additional output. C) the number of workers willing to produce the additional output. D) the elasticity of demand for the output produced by the worker.
You are the manager of a monopoly that faces a demand curve described by P = 10 ? 2Q. Your costs are C = 20 + 2Q. The revenue-maximizing output is:
A. 3. B. 1.5. C. 4. D. None of the answers is correct.
For this question, assume that individuals hold both currency and checkable deposits. The money multiplier is equal to
A) 1/c. B) 1/[c + ?(1 - c)]. C) [c + ?(1 - c)]. D) 1/?. E) 1/(1-c)
How much is autonomous consumption when disposable income is $2 trillion?
