If the price of gasoline was $3.25 a gallon and it is now $3.75 a gallon, what is the percentage change in price?
A) 7.1 percent B) 13.3 percent C) 15.4 percent D) 33.3 percent
C
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According to the graph shown, if this were depicting an autarky, the equilibrium price would be:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. $10.
B. $14.
C. $17.
D. $4.
Country A wants to produce more rice. Unfortunately, it will have to farm less productive land to produce this rice. This fact represents the idea of ______ returns to specialization
Fill in the blank(s) with the appropriate word(s).
Consider Figure 12.5. Figure 12.5 illustrates the payoffs of a game where both players play the game:
A. sequentially. B. simultaneously. C. forever. D. over a period of 8 years.
When the United States is described as having a dual system of health care, this means that:
A. government provides basic health insurance for all Americans and private insurance covers services beyond the basic level. B. high-quality care is provided in urban areas, but care in rural areas is of poor quality. C. those Americans with good insurance or substantial wealth receive world-class health care, while those without insurance receive no or low-quality health care. D. the high-risk segment of the population is required to have health insurance, while the low- risk sector is not.