As the number of available substitutes for a good increases, the price elasticity of demand for the good will increase as well
Indicate whether the statement is true or false
TRUE
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The current account records all transactions below EXCEPT for
A) net exports of goods and services. B) net interest income. C) net foreign investment. D) net transfers.
If marginal cost exceeds average variable cost,
a. average variable cost is negative b. average variable cost is increasing c. marginal cost is greater than average total cost d. average variable cost is decreasing e. average fixed cost is increasing
Moral Hazard describes a situation in which
a. buyers or sellers react to market signals by altering their behavior in ways that generate adverse market outcomes b. an action by an individual that endangers others c. an activity destroys all market outcomes d. rational behavior is removed from market decision making e. irrational behavior creates perverse market outcomes
Insurance exchanges:
A. are government-regulated markets where individuals can purchase health insurance to satisfy the personal mandate provision of the PPACA. B. are expected to significantly increase health care costs by expanding government regulation. C. are government-regulated markets where prices are set directly by federal regulators. D. allow patients to get medical treatment when away from the providers covered by their regular health insurance.