Refer to Figure 7-4. With insurance and a third-party payer system, what is the amount of the deadweight loss?
A) $0 B) $1,500 C) $3,000 D) $9,500
C
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The formula for the yield to maturity, i, on a discount bond is
A) i = (Face value - Discount price)/Discount price. B) i = (Discount price - Face value)/Discount price. C) i = (Face value - Discount price)/Face value. D) i = (Discount price - Face value)/Face value.
Joe owns a coffee house and produces coffee drinks under the production function q = 5KL where q is the number of cups generated per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor)
What is the average product of labor? A) AP = 5 B) AP = 5K C) AP = 5L D) AP = 5K/L
During recessions, unemployment insurance payments tend to rise
a. True b. False Indicate whether the statement is true or false
Owners of buildings can expect to collect ____ economic rent in the long run.
A. much B. marginal C. a competitive D. little or no