Which of the following nations experienced average rates of economic growth of less than 2 percent over the last 100 years or so?
a. Bangladesh
b. Pakistan
c. United Kingdom
d. All of the above are correct.
d
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The actual rate of unemployment will generally
What will be an ideal response?
Figure 9.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. Initially the insurance companies estimate that 40% of its customers are high-cost type. Compared to the outcome with pessimistic expectations, how many more customers buy health insurance?
A. 500 B. 1,300 C. 1,500 D. 1,600
Why is it not sufficient to just compare the marginal utility of two goods when maximizing utility?
Please provide the best answer for the statement.
An increase in supply causes a temporary surplus at the old equilibrium price.
a. true b. false