A bear market is one in which prices are expected to rise.
Answer the following statement true (T) or false (F)
False
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If a government decides to move from a regressive tax system to a progressive tax system, there will be a(n) ________ in equity and a(n) ________ in efficiency
A) increase; increase B) decrease; decrease C) increase; decrease D) decrease; increase
The health care system in ________ is referred to as a universal health insurance system, under which every resident is required to enroll in either a private or the government-provided health insurance program
A) Canada B) Japan C) the United Kingdom D) the United States
Where marginal cost is less than average cost,
A. opportunity cost must have been excluded from the calculation of marginal cost. B. marginal cost must be falling. C. marginal cost must be rising. D. marginal cost may be rising, falling, or constant.
Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive.
In the long run, the equilibrium price will be ________ per gallon, and each firm's profit-maximizing quantity will be ________ gallons per week.
A. $20; 400 B. $15; 300 C. $20; 4,000 D. $15; 6,000