Government payment of a per-unit subsidy for medical care causes
A) the market supply curve to shift upward.
B) the market demand curve to shift downward.
C) a reduction in the price that providers of medical care receive for each unit of care provided.
D) an increase in the quantity of medical care demanded above the quantity demanded in the absence of the subsidy.
D
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Economist Douglass North's definition of institutions:
A. is the rules of the game in a society. B. is the humanly devised constraints that shape human interactions. C. includes laws enforced by the government as well as cultural norms. D. All of these statements are true.
The market structure(s) most likely to exhibit extensive advertising is (are): a. monopoly
b. monopolistic competition. c. perfect competition. d. monopoly and oligopoly.
Which of the following was true of the actions of the Federal Reserve in response to the recession of 2008?
a. The Fed shifted toward a highly restrictive monetary policy in 2008, which was a major cause of the recession. b. The Fed continued to focus only on price stability and therefore it expanded the money supply at a slow and steady rate throughout the recession. c. The Fed introduced several new procedures for the conduct of monetary policy and it increased the monetary base rapidly as the recession worsened. d. The Fed continued to purchase and sell only U.S. Treasury bonds when conducting open market operations to control the money supply.
Immigration of workers into the United States is often an important source of
a. increases in the demand for labor in the United States. b. decreases in the demand for labor in the United States. c. increases in the supply of labor in the United States. d. decreases in the supply of labor in the United States.