What is one reason the United States produces luxury cars such as the Chevy Corvette but still does not provide health care for all individuals?
A. Total surplus in the United States is too low.
B. Providing health care for all individuals is always inefficient.
C. Income is highly unequally distributed in the United States.
D. Government manages the health care system.
Answer: C
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If the labor force consists of 100 laborers, and these laborers work with a capital stock of $20,000 . then the capital-labor ratio is
a. 0.01 b. 0.02 c. 100 d. 200 e. 2,000
Critics of supply-side policies argue that the effects of tax cuts are too small to be effective policy
a. True b. False Indicate whether the statement is true or false
Under perfect competition, which of the following are the same (equal) at all levels of output?
a. Price and marginal cost b. Price and marginal revenue c. All of the answers are correct. d. Marginal cost and marginal revenue
If Carol's disposable income increases from $1,200 to $1,700 and her level of saving increases from minus $100 to a plus $100, her marginal propensity to:
A. save is three-fifths. B. consume is one-half. C. consume is three-fifths. D. consume is two-fifths.