Which age category has the highest incidence of those without health insurance?
a. 45-64 years of age
b. 19-34 years of age
c. Under 19 years of age
d. Over 65 years of age
e. 35-44 years of age
a. 45-64 years of age
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The total consumer surplus enjoyed by all consumers in a market
a. exceeds the market price b. is measured by the area under the market demand curve c. is measured by the area beneath the market price d. is a Pareto improvement e. is called market consumer surplus
Costume jewelry is produced in a monopolistically competitive market. One producer finds that MR = MC = $3 when output is 700 necklaces. An economist studying this information can conclude that:
A. the producer is charging a price of $3. B. economic profit is $2,100. C. the producer charges a price greater than $3. D. new firms will want to enter.
If nominal Gross Domestic Product (GDP) in 2020 was $3,000 billion, and the price level index was 330 (2000 = 100), then real Gross Domestic Product (GDP) in terms of the price level in 2020 was about
A. $105 billion. B. $537 billion. C. $4,220 billion. D. $909 billion.
A government-inhibited good is one that
A) the political process has determined is socially undesirable. B) the political process has determined is socially desirable. C) freely competitive markets have determined is socially desirable. D) we want to encourage the consumption of.