Refer to Figure 7-5. If consumers paid the full price of medical services, the price they would pay is
A) $40. B) $55. C) $65. D) > $65.
B
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As a perfectly competitive firm produces at the point where price equals marginal cost, it has no supply curve, only a supply point
a. True b. False Indicate whether the statement is true or false
If the Fed wants to lower the interest rate, it will
a. increase the money supply b. decrease the money supply c. increase money demand d. decrease money demand e. simply set a lower market interest rate
In year 1 the CPI is 174, and in year 2 the CPI is 190. If Sarah's salary was $49,800 in year 1, what salary in year 2 would cause her to exactly "keep up with inflation"?
A) $34,004 B) $42,942 C) $40,508 D) $54,379
The U.S. Federal government limits the ability for private firms to harvest timber on much government land. This, it is argued, increases the amount of fuel for wildfires which often burn out of control and cost money and manpower to control
A) This suggests that the policy addressing one positive externality might have created another positive externality. B) This suggests that those who harvest timber are prone to starting wildfires. C) This suggests that the policy addressing timber harvesting created a negative externality. D) This suggests that government policy is destined to fail.