The impact of technological change in the health-care area has been to
A) increase both the quality of health care and the monetary costs of health care.
B) increase the monetary costs of health care and decrease the quality of health care.
C) decrease the monetary costs of health care while decreasing the quality of health care.
D) increase longevity but decrease quality of life.
A
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The above figure shows the U.S. market for replacement cell phone batteries. Area E is the
A) producer surplus when there is free trade. B) deadweight loss from tariff. C) tariff revenue. D) increase in producer surplus due to the tariff. E) gain in total surplus due to the tariff.
If the demand curve a firm faces shifts to the right, usually:
a. it would be impossible to tell whether the marginal revenue curve shifts. b. the marginal revenue curve would shift to the left. c. the marginal revenue curve would shift to the right. d. the marginal revenue curve would not shift.
Agraria sends wheat to Cyberia in exchange for computers and technology goods. This is an example of
A. unidirectional trade. B. joint venture. C. barter. D. monetary exchange.
The dollar price of a good relative to the average dollar price of all other goods and services is the good's:
A. nominal price B. equilibrium price C. market price D. real price