There is a bill pending before the Kansas State Legislature that would prohibit private companies from selling health insurance and would make the state the single payer of health care bills. Private health insurance companies that have made above normal profits have spent large sums of money trying to ________. This is an example of rent-seeking behavior.
A. prevent this bill from being passed into law
B. pass an even more restrictive bill
C. get this bill made into law
D. fund the state for its single-payer system
Answer: A
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If competing price searchers adjust their own prices on the basis of a close monitoring of their rival's prices,
A) all prices will tend to be the same, which proves prices are not competitive. B) all prices will tend to be the same, which proves sellers are not competing on price. C) each price searcher's demand curve will be indeterminate. D) prices will fluctuate regularly. E) prices will rise when costs increase but will not fall when costs decrease.
Marginal cost refers to the increase in cost attributable to hiring one more unit of labor, capital, or some other input
Indicate whether the statement is true or false
If a $10 billion increase in government purchases causes a $25 billion increase in real GDP, then the expenditures multiplier is
A. unknown. B. 2.5. C. 10. D. 5.
Which of the following will NOT cause a shift in the demand for portable power banks?
A) a change in taste B) a change in income C) a change in the price of portable power banks D) a change in the price of smartphones