Insurance creates an incentive for people to consume more health care, and this helps to reduce the moral hazard problem
Indicate whether the statement is true or false
FALSE
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Unemployment benefits in western Europe are more generous than in the United States. As a result, ________ in the United States
A) frictional unemployment is higher B) frictional unemployment is lower C) cyclical unemployment is higher D) structural unemployment is higher E) avoidable unemployment is lower
According to the party cycle theory, recessions
a. will be nonexistent in the near future. b. are most apt to occur when a liberal president is elected. c. are most likely to occur during the first couple of years following the election of a conservative president. d. are here to stay.
Legal or governmental restrictions that give monopolistic advantages to a firm include all of the following EXCEPT
A) economies of scale. B) tariffs. C) licenses. D) franchises.
Refer to Table 8.1. Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost. What is the average cost of producing 65 units of output?
A. $40
B. $15.38
C. $0.50
D. $16