If you have a $50 co-pay, you must pay ____ for each doctor’s visit.
A. $50
B. $35
C. $25
D. None of the above is correct.
Answer: A
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Suppose a new technology is developed that increases the productivity of labor. You would expect
A. the wage rate to fall, since employers will want less labor. B. the demand for labor to fall. C. the demand for labor to rise. D. an increase in unemployment as firms replace labor with technology.
Which of the following goods is an intermediate good?
A) lettuce that a restaurant buys to put on sandwiches B) tires that a car company buys to put on the cars it produces C) a television set that Chi-Mai buys to put in her college dorm room D) a and b E) b and c
Excise taxes
A. are aimed at a specific good or service. B. are aimed at a wide range of products. C. are direct taxes. D. are generally progressive in nature.
A basic conclusion of Keynesian analysis is that
A. Small macro disturbances can lead to much larger macro problems. B. The economy self-adjusts to reach full employment and a stable price level. C. Equilibrium GDP is consistent with price level stability. D. Equilibrium GDP is consistent with full employment.