Of the following, which has most likely contributed the most to the rapid rise in health care costs in the United States?
A) the cost of malpractice insurance
B) the cost to treat uninsured patients
C) slow growth in labor productivity in health care
D) the cost of malpractice lawsuit settlements
Answer: C
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Currently tire producers must receive a price of $50 per tire to produce 5000 tires. If the supply curve of tires is upward sloping, then to produce one additional tire, tire producers will need to receive a price of
A) $50. B) less than $50. C) more than $50. D) $0.
Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?
A) 0.04 pounds of wheat B) 4 pounds of wheat C) 25 pounds of wheat D) 40 pounds of wheat
What was the consequence of the United States putting an anti-dumping tax on flat panel displays?
a. It created a trade war with other countries. b. It protected buyers from paying a low price for flat panels display. c. It increased employment in the United States. d. It drove the laptop manufacturing industry out of the United States.
If there were no income inequality in a nation, its Lorenz curve would be:
A. convex. B. a horizontal line. C. an upward-sloping straight line with slope of 1. D. concave.