In the United States, out-of-pocket spending on health care as a percentage of all spending on health care has ________ since 1960
A) slowly risen
B) steadily declined
C) more than doubled
D) remained stable
Answer: B
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Who receives benefits if regulation works according to social interest theory?
A) the entire economy B) cohesive interest groups C) everyone not in the cohesive interest group D) the regulators E) It is impossible to determine who benefits.
Which of the following will cause a leftward shift in the aggregate demand curve?
A) a reduction in the money supply B) an increase in taxes C) a reduction in government spending D) all of the above
Cartels provide uniform management, but none of the advantages of economies of scale.
Answer the following statement true (T) or false (F)
When a conflict arises in a major oil-exporting area of the world, such as the Middle East, the price of gasoline already in the storage tanks at local gas stations usually increases. Which of the following best explains this occurrence?
a. Gas station owners anticipate consumers will buy more gasoline as gasoline prices increase. b. Gas station owners are attempting to repeal the laws of supply and demand. c. Gas station owners anticipate higher replacement costs for their supply of gasoline and, therefore, raise their prices in response to this higher expected cost. d. A decline in consumer demand generally causes gas station owners to raise their prices.