Which of the following statements about the distribution of physicians among specialties is true in the United States?
a. There are twice as many specialists as there are generalists.
b. The majority of physicians specialize in general/family practice.
c. The specialty distribution in the U.S. is similar to that of the rest of the world.
d. There are twice as many generalists as there are specialists
a. There are twice as many specialists as there are generalists.
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Answer the following statements true (T) or false (F)
1. The ability to produce a good or service at a lower opportunity cost than other producers face is known as comparative advantage. 2. The ability of a nation to gain from specialization and exchange is affected by factors such as shipping costs and exchange rates. 3. One cause for the uneven standard of living throughout the world is the uneven distribution of resources. 4. The application of the principle of comparative advantage requires each of two trading partners to have an absolute advantage over the other in the production of some particular commodity.
Discuss the criticisms leveled against the Aid to Families with Dependent Children program.
What will be an ideal response?
Exhibit 7-12 Marginal revenue and cost per unit curves
?
If price is equal to OD for the firm shown in Exhibit 7-12, total profit is maximized when:
A. output is X. B. output is Y. C. output is Z. D. output is greater than Z.
A study of the U.S. price level and real GDP from 1972 to 2007 reveals a clear upward march toward higher prices and greater output. What explains this?
A. Both the aggregate demand curve and the aggregate supply curve have shifted to the left year after year. B. Both the aggregate demand curve and the aggregate supply curve have shifted to the right year after year. C. The aggregate supply curve has shifted to the right, while the aggregate demand curve has shifted to the left. D. The aggregate supply curve has shifted to the left, while the aggregate demand curve has shifted to the right.