Medicare subsidies will cause people to
A) perceive the price they pay per unit of medical services to be lower than the price received by the provider.
B) perceive the price they pay per unit of medical services to be higher than the price received by the provider.
C) perceive the price they pay per unit of medical services to be exactly equal to the price received by the provider.
D) demand fewer services.
A
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The costs of economic growth include all of the following except consumption sacrificed for:
A. acquiring new human capital. B. research and development into new technologies. C. additional hours of leisure. D. physical capital formation.
Suppose you operate in a monopolistically competitive market. If you sell your good at a price of $20 and your average cost of production is $15:
A. your market may be in long-run equilibrium. B. you cannot be in short-run equilibrium. C. you should expect competing firms to enter your market and shift the demand curve for your good to the left. D. you should expect competing firms to enter your market and shift the demand curve for your good to the right.
In a perfectly competitive equilibrium with production and trade, which of the following results occur(s)?
A) Pareto-efficiency is obtained. B) The First Welfare Theorem is satisfied. C) There is efficiency in production. D) All of the above.
The efforts to reduce the deficit in 2011 can be best thought of as using
A. the traditional tools of monetary policy. B. discretionary fiscal policy. C. new tools of monetary policy. D. none of these options are correct.