When demand is elastic, an increase in price will result in an increase in total revenue.
Answer the following statement true (T) or false (F)
False
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A deductible reduces ________ in exactly the same way as ________
A) moral hazard; coinsurance B) adverse selection; restrictive provisions C) moral hazard; cancellation of insurance D) adverse selection; limits on the amount of insurance
The budget line is useful for illustrating the notion of opportunity cost
a. True b. False
What will most likely happen to the standard of living in a country that achieves sustained economic growth through increased productivity?
a. It will initially decrease and then increase. b. It will decrease. c. It will remain unchanged. d. It will increase.
Economists agree that the free movement of capital is desirable
Indicate whether the statement is true or false