The slope of a line is calculated as the ratio of the "rise" over the "run"
a. True
b. False
Indicate whether the statement is true or false
True
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What is the main reason for health insurance companies to require deductibles and coinsurance?
a. To deal with the adverse selection problem b. To deal with the moral hazard problem c. To subsidize doctors and hospitals
What are the effects of a rent ceiling that is set below the equilibrium rent?
What will be an ideal response?
Which of the following statement(s) best describes trade-offs?
a. The trade-offs in many production possibilities frontiers are represented by a straight line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to diminish. b. The trade-offs in many production possibilities frontiers are represented by a curved line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to increase. c. The trade-offs in many production possibilities frontiers are represented by a straight line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to increase. d. The trade-offs in many production possibilities frontiers are represented by a curved line because the law of diminishing returns holds that as resources are added to an area, the marginal gains tend to diminish.
Free Market System
What will be an ideal response?