Refer to Figure 19.2. Total utility is maximized at
A. 1 apple.
B. 6 apples.
C. 7 apples.
D. 3 apples.
Answer: B
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Which of the following is not an advantage of risk pooling?
A) By insuring large groups as opposed to individuals, health insurance providers reduce adverse selection. B) It gives very sick people in the group the same access to health care and to pay the same premiums as healthy individuals. C) Individuals who are insured and therefore do not have to pay the full cost of health care services may be inclined to over-use those services. D) It is easier for an insurance company to estimate the average number of claims likely to be filed under a group policy than it is to predict the number of claims likely to be filed under an individual policy.
Non-activists believe that the principal source of AD instability is
A) private investment spending. B) private consumption spending. C) erratic government policy. D) All of the above.
The cost of producing an additional unit of output is the firm's
a. marginal cost. b. productivity offset. c. variable cost. d. average variable cost.
When the price level rises in the United States, there is increased demand for loanable funds, ceteris paribus. Which concept is exemplified?
a. foreign trade effect b. transfer payment effect c. wealth effect d. interest rate effect