Refer to Figure 9.2. A movement from point a to point b could be caused by a(n)
A) increase in government spending.
B) decrease in the price of oil.
C) decrease in taxes.
D) decrease in short-run aggregate supply.
B
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Refer to Figure 4-15. As a result of the tax, is there a loss in consumer surplus?
A) No, because the producer pays the tax. B) No, because the market reaches a new equilibrium C) No, because consumers are charged a lower price to cover their tax burden. D) Yes, because consumers pay a price above the economically efficient price.
A surplus results when a
a. nonbinding price floor is imposed on a market. b. nonbinding price floor is removed from a market. c. binding price floor is imposed on a market. d. binding price floor is removed from a market.
The __________________________: is a general method for appraising all types of properties involves comparing the subject property with comparable properties (similar properties) that have sold recently.
Fill in the blank(s) with the appropriate word(s).
The key elements of the Affordable Care Act (ACA) passed in 2010 included all of the following except:
a. a mandate that required every employer with over 50 full-time workers to provide a qualified health plan at an affordable price, or face penalties. b. the establishment of insurance exchanges where individuals who did not have access to employer-sponsored insurance could receive subsidies to purchase private coverage. c. a federal requirement that states extend Medicaid coverage to individuals with family income less than 138 percent of the federal poverty level. d. expanded insurance regulations include guaranteed issue, guaranteed renewability, and no exclusions for pre-existing conditions. e. price controls on brand name pharmaceuticals