Which of the following is the best synonym for "marginal" in economics?
A. basic
B. scarce
C. additional
D. minor
Answer: C
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Approximately what percentage of total health care spending goes toward hospital care?
a. One-tenth. b. One-fifth. c. One-fourth. d. One-third. e. One-half.
When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage
a. True b. False Indicate whether the statement is true or false
Rational expectations theory is also known as the Friedman fooling theory
Indicate whether the statement is true or false
You are a manager at Hancock Tires. If the marketing department estimate of the demand for its high-end tire is Q = 150-15P, what price should it charge to maximize its revenue?
A. $5 B. $15 C. $3.5 D. $6.14