The rising cost of malpractice insurance is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States
Indicate whether the statement is true or false
FALSE
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Recent research in growth theory extends the traditional analysis by making the rates of
a. technological change and/or population growth exogenous. b. technological change exogenous and population growth endogenous. c. population growth and/or technological change endogenous. d. population growth exogenous and technological change endogenous.
Since a monopolistic competitor produces a product with many close substitutes, but none exactly like it. As a result, the firm:
a. has no market power. b. faces a highly inelastic demand curve. c. has unlimited market power. d. has some degree of market power.
When the Fed buys a Treasury bill from the public, how does it usually pay for the T-bill?
A. By writing a check on a commercial bank account B. By printing new Federal Reserve notes C. By creating new reserves in bank accounts D. By prepaying taxes into the Treasury’s account
A firm might choose to produce its own inputs if:
A. specialized investment is not important. B. spot markets for the input exist. C. the exchange environment is not complex. D. long-term contracts are costly to write.