During World War II, prisoners of war used ________ as money
A) bullets
B) cowrie shells
C) chocolate
D) cigarettes
Answer: D
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The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 5 to 6 units?
A) $18 B) $4 C) $3 D) -$2
The natural rate of unemployment is defined as the unemployment rate that exists in the absence of:
a. structural unemployment. b. frictional unemployment. c. cyclical unemployment. d. seasonal unemployment. e. inflation.
The present discounted value of a future payment will decrease when interest rates decrease.
Answer the following statement true (T) or false (F)
Related to the Economics in Practice on page 359: The individual mandate feature of the Affordable Care Act potentially broadens the pool of people who are in the health insurance market. Including young, healthy people in this pool via the mandate should potentially reduce ________ and ________ overall health care costs.
A. asymmetric information; raise B. asymmetric information; have no impact on C. adverse selection; lower D. adverse selection ; raise