If fewer families purchase health insurance because of rising health insurance premiums, then health insurance premiums are likely to rise further due to:
A. commitment problems.
B. moral hazard.
C. adverse selection.
D. first-dollar coverage.
Answer: C
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The above figure shows the Lorenz curves for four different countries. Which of the following statements CANNOT be made on the basis of the graph?
A) Incomes are distributed unequally in all four countries. B) Income distribution in country D is the most unequal among the four countries. C) Incomes are higher in country A than in country B. D) Income distribution is more equal in country B than in country D.
Think of the quantity theory of money: If M = 200, P = 100, and Q = 10, then V is
a. 20 b. 2 c. 10 d. 5 e. 2,000
Property owned by groups is called:
A. Shared property B. Public property C. Private property D. Common property
Consider an output beyond the minimum point of a firm's short run average total cost curve. At this level of output the firm can use its ________ input at a lower average cost but only by using its ________ input at a higher average cost.
A. variable capital; fixed labor B. fixed capital; variable labor C. variable labor; fixed capital D. fixed labor; variable capital