Nations with a command economy are known for having many entrepreneurs.
a. true
b. false
Ans: b. false
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All natural monopolies are characterized by
a. decreasing marginal cost at the point where their marginal cost curve crosses their demand curve. b. the fact that they earn economic losses. c. decreasing average costs at the point where their average cost curve crosses their demand curve. d. the fact that losses can only be avoided if they are regulated.
Open market operations alter the money supply by ________
A) influencing banks' ability to make loans to individuals and corporations B) adding currency to or withdrawing currency from banks' vaults C) adding currency to or withdrawing currency from the checking accounts of individuals and corporations D) influencing banks' ability to make loans to the government E) none of the above
Ceteris paribus, all of the following result when the minimum wage is raised and is above the equilibrium in a competitive market, except
A. Some workers lose their jobs. B. Workers with a marginal revenue product below the minimum wage are worse off. C. There are fewer workers available to work. D. There are fewer jobs available.
To better control overall Medicaid spending, most states:
a. set strict limits on the number of primary care physicians that can accept Medicaid patients. b. charge participants modest copays on physicians' services. c. require eligible enrollees to participate in wellness education programs such as smoking secession and nutrition classes. d. establish strict rules against using the emergency room in non-emergency situations. e. enroll all eligible recipients in managed care plans