A recessionary gap in an economy can be closed with a contractionary monetary policy
a. True
b. False
Indicate whether the statement is true or false
False
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When a monopolist increases output, total revenue will:
A. increase if the price effect outweighs the quantity effect. B. decrease if the quantity effect outweighs the price effect. C. increase if the quantity effect outweighs the price effect. D. increase but it will have no price effect.
If the demand for liquor is elastic and the supply of liquor is inelastic, when the government increases liquor tax, _____
a. most of the tax will be paid by the consumer b. most of the tax will be paid by the producer c. all of the tax will be paid by the consumer d. all of the tax will be paid by the producer e. the tax will be paid by the retailer
Which of the following statements is true regarding the difference between a monopolist and a perfectly competitive firm?
a. Competitive price is higher than the price charged by a monopolist. b. Supply of output is higher in case of a monopoly than if the market is competitive. c. A monopoly can choose its price while a competitive firm is a price taker. d. A market characterized by competition has a higher deadweight loss.
National health insurance programs:
A. can increase use of health clinics versus traditional village doctors, who often have no training. B. are starting to be implemented in poorer areas like Ghana to increase access to health care. C. still face challenges in some areas to provide good, high quality care. D. All of these statements are true.