What is the most important factor leading to rising health care costs in the United States since 1980?
a. The increased use of expensive medical technology.
b. The aging U.S. population.
c. The increased cost of malpractice insurance for providers.
d. Rising incomes for physicians.
e. The rising cost of pharmaceutical drugs.
A
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If average Americans start to pay off the huge credit card debt they now hold, then
A) a shift in the supply of loanable funds will cause interest rates to rise. B) a shift in the supply of loanable funds will cause interest rates to fall. C) a shift in the demand for loanable funds will cause interest rates to rise. D) a shift in the demand for loanable funds will cause interest rates to fall. E) there will be an excess demand for loanable funds.
Which of the following would result in a positive externality?
A) A local government establishes a price ceiling on rental apartments. B) An electric utility burns coal that causes acid rain. C) Medical research results in a cure for malaria. D) McDonald's eliminates all salads from its menu.
If a firm faces perfectly competitive product and factor markets and the marginal product of labor and capital are 4 and 9, respectively, while the wage rate is $2 and the rental rate on capital is $4, the firm should
A. use relatively less labor. B. decrease all inputs proportionately. C. use relatively more labor. D. increase all inputs proportionately.
The U.S. beer industry has an HHI of 3,525. If two beer producers propose a merger that would increase the industry HHI by 75 points, then the merger would be challenged based on the change in the HHI.
Answer the following statement true (T) or false (F)