In 2015, health care's share of gross domestic product in the United States
A) had declined to only 6.5 percent.
B) had returned to its 1995 level.
C) was almost than three times as high as it was in 1965.
D) reached a level of 75 percent.
C
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In monopolistic competition, each firm's marginal revenue curve lies ________ its demand curve because of ________
A) below; barriers to entry B) below; product differentiation C) above; barriers to entry D) above; product differentiation
Which of the following factors is associated with products with a highly price elastic demand?
a. Few close substitutes. b. A very short time period for consumers to respond to price changes. c. Many very close substitutes. d. A per unit price that is only a very small portion of most peoples' budgets.
Which of the following best describes a marginal choice?
a. how much of something to do b. “all or nothing” decision making c. whether or not something is legal d. choosing the lesser of two evils
The value of the deposit multiplier is 1 divided by the required reserve ratio.
Answer the following statement true (T) or false (F)