Which of the following is not held constant along a demand curve for labor by a firm?
a. the firm's technology of production
b. the price of the firm's output
c. the marginal product of labor for the firm
d. the price of substitutes for the firm's output
c
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Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
What will be an ideal response?
What is workfare?
(A) A state-by-state grant program of aid to the elderly. (B) A program that requires work in exchange for assistance. (C) Welfare that is limited to preschool-age children. (D) An early poverty program from the 1950s.
(Consider This) Which of the following statements about insurance and risk is true?
A. Insurance inhibits economic growth and investment by discouraging risk-taking. B. Insurance transfers risk from those with a high tolerance for risk to those with a low tolerance for risk. C. Insurance companies always earn profits because insurance premiums always exceed the payout for insured events. D. Insurance transfers risk from those with a low tolerance for risk to those with a higher tolerance for risk.
In addition to covering the costs of unpredictable events, health insurance typically covers many planned expenses, such as routine checkups, annual physicals, and the cost of vaccinations. Because of this, health insurance
A) discourages overuse of health care services. B) encourages overuse of health care services. C) generates an efficient quantity of health care services. D) is not accepted by most doctors and hospitals.