If an individual borrows $100 at an annual rate of interest of 5%, how much interest will he have to pay at the end of a year?
A) $20 B) $10 C) $50 D) $5
D
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The 2010 Patient Protection and Affordable Care Act (Obamacare) contains a provision that may require individuals to either purchase private health insurance or pay a tax. This is an example of
A) a mixed economy. B) market capitalism. C) centrally planned socialism. D) the invisible hand.
What is the maximum value of the Lerner index?
A) Infinity B) 100 C) Two D) One
In general, raising taxes has:
A. increasing returns to revenue. B. diminishing returns to revenue. C. increasing then decreasing returns to revenue. D. constant returns to revenue.
Hotels in New York City frequently experience an average vacancy rate of about 20 percent (i.e., on an average night, 80 percent of their rooms are full). This excess capacity is indicative of a(n) ____ industry
a. perfectly competitive b. monopoly c. monopolistically competitive d. oligopoly