Which of the following is NOT a reason for rising health care expenditures in the United States over the last 40 years?
A. technological change
B. discovery of new diseases
C. third-party financing of health care expenditures
D. aging of the population
Answer: B
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On any given day we know a salesman can earn $0 with a 30% probability, $100 with a 20% probability or $300 with 40% probability. His expected earnings equal
A) $0. B) $140. C) $300. D) It cannot be determined from the available information.
In the last 40 years, merger policy has become a major way for antitrust authorities to regulate market structure
Indicate whether the statement is true or false
If the marginal revenue product of the fifth worker is $15, the price of the last unit of output produced is $5, and the firm sells as a price searcher, then the marginal product of the fifth worker is
a. 3 units of output b. 45 units of output c. fewer than 3 units of output d. greater than 3 units of output e. greater than 75 units of output
Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases from $20 to $24 . Based on this information, we can conclude that the price level has: a. increased by 20 percent. b. increased by 25 percent. c. remained unchanged
d. decreased by 10 percent. e. decreased by 20 percent.