Replacing employment-based health care with a government-run system could reduce employers payments for their workers insurance, but the amount that they would have to pay in overall compensation
A) would remain essentially unchanged.
B) would dramatically increase.
C) would fall to zero.
D) would dramatically decrease.
Answer: A
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Suppose that in 2016, all prices in the economy double and that all wages and salaries also double. In 2016 you
A) are no better off or worse off than you were in 2015 as the purchasing power of your salary has remained the same. B) are better off than you were in 2015 as your salary is higher than it was in 2015 and you can now buy more goods and services. C) are worse off than you were in 2015 as you can no longer afford to buy as many goods and services. D) cannot determine whether you are better off or worse off than you were in 2015, because the purchasing power of your salary cannot be determined.
Which of the following is an example of a bank realizing economies of scope?
A) The bank develops a standard mortgage loan application to make the process of loaning out mortgages easier. B) The bank reduces costs of credit checking for the loan process by outsourcing the process to a specialist. C) By using the information collected from a corporation, the bank can decide how easy it would be to sell bonds issued by the corporation to the public. D) A bank in a rural area specializes in providing agricultural loans.
A sporting goods store has estimated the demand curve for a popular brand of running shoes as a function of price. Use the diagram to answer the question that follow.
A. Calculate demand elasticity using the midpoint formula between points A and B, between points C and D, and between points E and F
b. If the store currently charges a price of $50, then increases that price to $60, what happens to total revenue from shoe sales (calculate P Q before and after the price change)? Repeat the exercise for initial prices being decreased to $40 and $20, respectively
The great German hyperinflation during 1922-1923 can be attributed to the:
A) German government printing money to pay bills. B) absence of financial intermediaries in Germany. C) emergence of large number of monopolies in Germany. D) economic policy that restricted the import of goods into Germany.