The new laws associated with health care reform dictate that 60-year-old patients cannot be charged more than ____ times as 25-year-old patients
a. three
b. five
c. seven
d. ten
a
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Which one of the following is TRUE about the effects of fiscal policy?
A) A decrease in government spending will decrease aggregate demand. B) A tax change does not have any direct or indirect effects on aggregate demand. C) A decrease government spending will increase aggregate supply. D) An increase in government spending will reduce aggregate demand.
In the presence of pollution, social welfare is maximized by
A) reducing output and pollution until marginal benefit of less pollution is equal to the marginal cost of less output. B) reducing output and pollution until the benefit curve (of less pollution) and cost curve (of less output) intersect. C) reducing output and pollution until the benefits of pollution reduction just cover the costs of output reduction. D) None of the above.
The account which records a nation's foreign economic transactions is called the:
a. Exchange Market. b. Trade Account. c. Balance of Payments. d. T account.
Which of the following scenarios describes a producer surplus?
a. The fashion company would accept $300 for its new wool jacket, but they sell it for $500. b. Nina is willing to spend $750 for a new designer wool jacket, but she finds it on sale for $500. c. The city budgeted $10,000 for a management consultant, but it was able to hire one for $9,000. d. The store needed $100 a dress to cover costs, but the few last dresses had to be marked down to $60.