The health care market in the United States is characterized by
A) considerable government involvement.
B) third-party payment of health care costs.
C) asymmetric information between providers and consumers.
D) all of the above
D
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The table above lists the market shares of the twenty makers of personal computers. The four-firm concentration equals
A) 5 percent. B) 20 percent. C) 25 percent. D) 100 percent.
Which of the following would be most vulnerable to the tragedy of the commons?
A. Cattle on a ranch B. Restrooms in a restaurant C. Timber on public land D. Apples in Phoebe's apple orchard
Which of the following events will increase the domestic real interest rate in an open economy?
A. An increase in net capital inflow B. An increase in domestic saving C. A decrease in the domestic saving D. A decrease in the perceived riskiness of investing in the domestic economy
Economic profit is equal to total revenue minus explicit costs.
a. true b. false