Approximately how much of aggregate national income in the United States is spent on health care today?
A. 18 percent
B. 45 percent
C. 3 percent
D. 34 percent
Answer: A
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In order to derive the market supply curve from individual supply curves, we add up the
A. various quantities that individual sellers are willing and able to supply at different prices. B. total number of sellers in the market at a given time. C. costs that all individual sellers incur in producing the product. D. various prices that individual sellers are charging for the quantities of the product available.
A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix B. Entrepreneurial discovery process C. Business processes D. Opportunity cost analysis
If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a(n):
A. perfect competitor. B. oligopolist. C. monopolist. D. monopolistic competitor.
A marginal external cost is the cost of producing an additional unit of a good that falls on the producer
Indicate whether the statement is true or false