Which of the following is NOT a consequence of the introduction of the Medicare program?
A. an increased ability for the poor to obtain medical services
B. an increased quantity of medical services demanded
C. an increased ability for the elderly to obtain medical services
D. a reduced demand for medical services
Answer: D
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For which of the following will the law of one price hold best?
A) shirt B) butter C) gold D) milk
A permanent reduction in planned real investment spending leads to
A) a more than proportional increase in real GDP. B) a more than proportional decrease in real GDP. C) a less than proportional decrease in real GDP. D) a proportional decrease in real GDP.
According to Environment Canada, the cornerstone of the Canadian Environmental Protection Act (CEPA) of 1999 is
a. reuse and recycling b. safe disposal of hazardous wastes c. environmental labeling d. pollution prevention
If a perfectly competitive firm operates in the short run and expands in the long run, then the firm's short run condition is
A. TR > TC. B. TR >TVC and TR < TC. C. TR < TVC. D. TR < TFC.