Which of the following accounts for the highest percentage of health care dollar spending in the United States?
a. prescription drugs
b. physician services
c. program administration and net cost
d. hospital care
d
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An example of a good that is both rival and excludable is
A) the defense services provided by a new stealth bomber. B) a pair of pants. C) a beautiful sunset. D) an uncrowded theme park such as Walt Disney World.
Faced with a shortage of funds to pay claims, the workman's compensation systems in many states have been forced to raise the workman's compensation tax rate substantially. The tax is paid by employers. Employers have complained that they cannot afford the tax and threaten to go out of business. Assuming the supply of labor is very inelastic, one can argue that ultimately the burden of this tax
actually will rest a. mostly on workers. b. mostly on employers. c. about 50/50 on workers and employers, like the Social Security tax. d. all on employers by statute.
If you are convinced that stock prices are impossible to predict from available information, then you probably also believe that
a. the efficient markets hypothesis is not a correct hypothesis. b. the stock market is informationally efficient. c. the stock market is informationally inefficient. d. there is no reason to establish a diversified portfolio of stocks.
If an economy's investment outlook improves, leading to increased borrowing to finance new building projects, what is likely to happen to interest rates?
a) Interest rates will fall to 0%. b) Interest rates will fall. c) Interest rates will rise. d) Interest rates will stay the same.