In the United States, out-of-pocket spending on health care per person
A) has remained fairly steady since 1965.
B) has been rising since 1965.
C) fell from 1965 through 1995, then began to rise from 1995 to the present.
D) has been falling since 1965.
D
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Suppose the market for autoworkers is initially in equilibrium, but then the demand for automobiles increases and simultaneously the automakers allow autoworkers less flexibility working at the plants. What happens in the market for autoworkers?
A) The equilibrium wage rate will increase and the equilibrium quantity of labor will increase, decrease or stay the same. B) The equilibrium wage rate will increase, decrease or stay the same and the equilibrium quantity of labor will increase. C) The equilibrium wage rate and the equilibrium quantity of labor will both decrease. D) The equilibrium wage rate will decrease and the equilibrium quantity of labor will increase.
A bond that pays a high interest rate
A. is more secure than one that pays a low interest rate. B. is guaranteed by the U.S. government. C. reflects the higher risk that the issuer will default. D. will sell for a high price.
Which of the following most closely represents the share of total U.S. income that flows to the poorest 20 percent of all U.S. households?
a. 49 percent b. 23 percent c. 15 percent d. 4 percent
A risk-neutral monopoly must set output before it knows the market price. There is a 50 percent chance the firm's demand curve will be P = 20 ? Q and a 50 percent chance it will be P = 40 ? Q. The marginal cost of the firm is MC = Q. The expected profit-maximizing quantity is:
A. 15. B. 20. C. 5. D. 10.