National health care programs are not as effective as they could be because:
A. patients are not receptive to utilization of modern medicine in most nations.
B. many doctors in clinics do not have sufficient knowledge to properly diagnose patients.
C. traditional Western medicine is largely untrusted in most parts of the developing world.
D. health care providers tend to have a high absentee rate.
Answer: D
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Which of the following is not a characteristic of a perfectly competitive market structure?
A) There are restrictions on exit of firms. B) There are no restrictions to entry by new firms. C) There are a very large number of firms that are small compared to the market. D) All firms sell identical products.
In the real economy, income taxes are generally proportional or progressive
What will be an ideal response?
A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are
A) better suited for the production of some goods than others. B) used efficiently. C) relatively cheap at low levels of output. D) used to produce consumption goods.
If a Pigovian tax is too large, the resulting:
A. outcome will not maximize surplus. B. quantity will be too high. C. outcome will still be efficient. D. All of these statements are true.