Medical malpractice law is designed to
a. encourage physicians to act as responsible agents for their patients
b. punish those providers guilty of intentional misconduct
c. provide an income for the insurance firms who sell malpractice insurance
d. none of these choices
A
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USX, a steel company, reduced the number of man-hours required to produce a ton of steel from 10.8 in 1982 to 3.8 in 1990, thereby eliminating 55,000 jobs. Technically, this rise in productivity means the
A. marginal product of labor increased. B. average product of labor increased. C. average product of capital fell. D. marginal product of capital fell.
Refer to Figure 10.1. If Daisy contributes to the lighting, Bo should
A) contribute if Luke contributes. B) not contribute only if Luke does not contribute. C) not contribute regardless of what Luke decides to do. D) contribute if Luke does not contribute.
The existence of external economies of scale
A) may be associated with a perfectly competitive industry. B) cannot be associated with a perfectly competitive industry. C) tends to result in one huge monopoly. D) tends to result in large profits for each firm. E) focuses more on individual firms than the industry as a whole.
The institution that is responsible for maintaining international monetary stability is the:
A. World Bank. B. United Nations. C. International Reserve Bank. D. International Monetary Fund.