The tax deductibility of employer-provided health insurance is a primary factor in the spread of health insurance during the latter half of the twentieth century
a. True b. False
a
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Related to the Economics in Practice on page 214: According to the Economics in Practice, firms where managers had more extensive training experienced
A. a decrease in the marginal product of labor. B. increased productivity. C. increasing wage rates. D. a decrease in the marginal revenue product of labor.
Refer to the information. In equilibrium saving will be:
Answer the question on the basis of the following information for a private closed economy, where I g is gross investment, S is saving, and Y is gross domestic product (GDP).
A. $40.
B. $120.
C. $60.
D. $80.
Economists define the rent of a resource as the
a. value of the resource b. difference between what the resource is paid on the market and the cost of bringing that resource into production c. present value of the resource d. land-profit generated by the resource e. opportunity cost of using the resource in production
Is it possible for the total market demand for a good at the prevailing price to be inelastic while the demand facing any one seller of the good is highly elastic?
A) No, because each seller's demand is a part of the total demand. B) No, because if this were the case the price would fall until the market demand became elastic. C) No, because if this were the case the price would rise until the market demand became elastic. D) Yes, and it's actually quite common.