Your college bookstore buys a used textbook for $25 and sells it to you for $125. What happens to GDP?
A) It increases by $25.
B) It increases by $100.
C) It increases by $125.
D) It increases by $150.
C
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Suppose a monopolist offers a $20 mail-in rebate on an item with a list price of $100. In order for the rebate to be a perfect hurdle, it must be the case that:
A. buyers use the rebate if and only if their cost of filling out the rebate is less than $20. B. all buyers with a reservation price greater than $80 use the rebate. C. some buyers with a reservation price greater than $80 use the rebate. D. buyers use the rebate if and only if they have a reservation price between $80 and $100.
The quantity at which quantity demanded and quantity supplied are equal for a certain price level is known as
a. equilibrium price. b. equilibrium quantity. c. equilibrium rate. d. equilibrium level.
The establishment of Silicon Valley in California is a contemporary example of _______; one that many have unsuccessfully tried to
Fill in the blank(s) with the appropriate word(s).
A recent study of the Canadian health care system estimates that a significant portion of the difference between health care spending in the U.S. and Canada is due to age differences between the two populations. Other reasons for lower health care spending in Canada include:
a. comprehensive first dollar coverage for all medically necessary health care services. b. better access to advanced medical imaging in Canada. c. is the geographic isolation of much of the Canadian population, which is a natural deterrent to accessing medical services. d. the monopsony power of the Canadian provincial health plans in negotiating fees with physicians' associations and other providers. e. significant excess capacity of inpatient beds in the Canadian hospital system.