Under comprehensive health insurance the level of output is determined where _____
a. supply equals demand
b. demand equals zero
c. supply is of unitary elasticity
d. the insurer sets it
b
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Figure 10.1 depicts a firm's marginal revenue product curve. If the product price decreases, the marginal revenue product curve:
A. shifts downward. B. shifts upward. C. remains the same. D. None of these
An externality is
A) a third-party benefit or cost that is associated with the production of a good. B) when external forces such as war or flood affect the market. C) government intervention in the markets. D) transaction costs.
Which of the following methods of reducing the amount of trash society generates is most likely to be efficient?
A. A mandatory recycling program B. Landfills and incinerators C. A completely voluntary recycling program D. A "trash tax"
Is the unemployment rate the same for all groups of people in an economy? Why or why not?
What will be an ideal response?