What type of variables have their movements explained by theory?
A) endogenous
B) exogenous
C) autonomous
D) Both B and C
A
Economics
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Let demand be given by P = 20 - 3Q and supply by P = 5 + 2Q. Equilibrium quantity will be:
A. 10 B. 3 C. 5 D. 11
Economics
What is the change in output from adding one more worker called?
(A) Negative marginal returns (B) Diminishing marginal returns (C) Increasing marginal returns (D) Marginal product of labor
Economics
Which of the following statements is true?
A. Most Medicaid beneficiaries are in HMO plans. B. Most Medicare Advantage beneficiaries are in HMO plans. C. Only about a quarter of employer-sponsored plan beneficiaries are in HMO plans. D. All of the above
Economics
What is the total fixed cost in Figure 21.2?
A. $80. B. $29,600. C. $10,000. D. $9,600.
Economics