Most of the money income that Americans receive annually derives from ownership of
A) interest-bearing bank accounts.
B) personal attributes.
C) political influence.
D) real estate.
E) stocks and bonds.
B
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What is the difference between a market equilibrium and a competitive market equilibrium?
What will be an ideal response?
Which of the following factors can influence the production possibilities frontier in the future?
a. The amount of capital produced b. A fall in the rate of inflation c. A decrease in consumption in an economy d. An increase in the tax rate e. A legal reform that increases transaction costs
One result of asymmetric information in health insurance markets is:
a. adverse selection. b. an optimal number of insurance policies sold. c. externalities in consumption. d. the principal-agent problem. e. a low marginal benefit of additional information for the buyer of insurance.
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 78 ? 15Q, where Q = Q1 + Q2. The marginal costs associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. What price should be charged in order to maximize revenues?
A. $52 B. $39 C. $47 D. $56