Which of the following is NOT a reason for the inability to stabilize output?
A) lags between observation and action
B) policy actions can immediately take effect
C) policy constraints
D) preference to maintain long-range goals
Ans: B) policy actions can immediately take effect
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The marginal social cost of production is the
A) marginal private cost plus the marginal external cost. B) same as the marginal cost of any externality. C) total cost of any externality. D) marginal private cost minus the marginal external cost.
The upsurge in single parenthood is entirely confined to minorities
Indicate whether the statement is true or false
Individuals on opposite sides of the political spectrum typically voice opposite viewpoints on universal access and universal coverage. What is the difference between the two concepts?
a. Republicans typically support universal coverage; Democrats support universal access. b. Universal access guarantees that everyone that wants it has health insurance. c. Universal access usually requires mandatory participation; universal coverage is a voluntary system. d. Universal access means that everyone has access to medical treatment from the provider of his or her choice. e. Universal coverage guarantees that everyone will have access to health insurance coverage.
What price should a firm charge for a package of two shirts given a marginal cost of $4 and an inverse demand function P = 8 ? 2Q by the representative consumer?
A. $8 B. $4 C. $16 D. $12