In monopolistic competition, which of the following is a result of product differentiation?
a. inefficiency
b. efficiency
c. low profits
d. zero profits
a. inefficiency
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Liquidity can
A) not be created. B) be created by borrowing short and lending long. C) only be created by the government. D) be created by borrowing long and lending short.
When finding GDP algebraically, what is the final, unique equation that can be used?
a. GDP = C + Ip + G + NX b. GDP = AE + NX + T c. GDP = C + I + G + NX d. GDP = Y + T + G e. GDP = C + I + NX
Sociopsychiatric explanations of consumer behavior include the
A. Desire for ego and status. B. Level of wealth. C. Prices of other goods. D. Level of income.
Which of the following is not part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Individuals are allowed to opt out of the insurance program if they can prove they have no serious health issues. B) In 2017, fines for not having health insurance are the greater of $695 per person or 2.5 percent of income. C) Individuals who do not acquire health insurance will be subject to a fine. D) With limited exceptions, every resident of the United States is required to have health insurance that meets certain basic requirements.