The CPI is always 1 in the base year
a. True
b. False
Indicate whether the statement is true or false
False
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National health insurance programs:
A. can increase use of health clinics versus traditional village doctors, who often have no medical training. B. are usually too costly for developing nations to implement. C. have solved the problem of providing high-quality care in places like India. D. are always less efficient than privatized programs.
The data in the above table demonstrates that gains from trade can be captured if
A) the United States produced both goods. B) the United States produced steel in exchange for concrete produced in France. C) the United States produced concrete in exchange for steel produced in France. D) each country became self-sufficient, produced both goods for itself, and did not engage in trade.
Farmer Jones knows that the marginal cost to produce a bushel of tomatoes is $5 per bushel. He also knows that a consumer is willing to pay a maximum of $9 for the bushel. The price of the bushel is $6 and Farmer Jones sells his bushel for $6
On this bushel, Farmer Jones earns a producer surplus equal to A) $1. B) $3. C) $5. D) $6.
If a firm has a market share that exceeds ________ percent, most courts will conclude that the firm is a monopoly and if the market share exceeds ________ percent, the courts are likely to conclude that the firm is coming "dangerously close" to being a monopoly.
A) 99; 50 B) 75; 50 C) 90; 75 D) 80; 60