The need to make choices is most closely related to the economic concept of
A) opportunity cost.
B) efficiency.
C) inefficiency.
D) utility.
E) disutility.
A
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Rational ignorance suggests that voters will
A) be ignorant about all issues. B) be ignorant about issues that are of no special interest to them. C) pursue information on all issues before voting. D) avoid voting if they have no information.
The majority of transactions in foreign exchange markets involve ________
A) transactions one the New York Stock Exchange B) exchanging one set of physical notes for another C) exchanging bank deposits denominated in different currencies D) buying and selling Treasury securities
Managed care
a. establishes a system of retrospective payment determined ex ante. b. combines the responsibilities of payer and provider of medical services. c. attempts to shift a portion of the financial risk onto providers. d. attempts to shift a portion of the financial risk onto patients. e. Both b and c are correct.
The disposable income component of aggregate demand is equal to:
a. income before taxes. b. income after taxes. c. operating income. d. investment income.