Which of the following products can be sold through mass advertising?
a. A new electrocardiogram machine to be used by medical examiners
b. A mainframe computer installation
c. A new health insurance policy
d. A new brand of baby diapers
D
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Refer to Figure 2-6. If the economy is currently producing at point C, what is the opportunity cost of moving to point B?
A) 13 thousand hammers B) 30 thousand wrenches C) 23 thousand hammers D) 10 thousand wrenches
If a macroeconomist studying the causes of unemployment finds that, historically, changes in technology seem to have caused between five and 15 percent of changes in unemployment, then this macroeconomist is at which step in the process of developing
an economic model? A) Identify the exogenous variables. B) Identify the endogenous variables. C) Develop a model. D) Compare the model with the data. E) Conduct prediction and policy analysis.
If medical care is provided free of charge,
a. no one utilizes it b. beneficiaries consume it up to the point at which the demand curve intersects the vertical axis c. beneficiaries derive no consumer surplus from medical care d. beneficiaries consume the same amount they have always consumed e. beneficiaries consume it up to the point at which the marginal benefit of the final unit is zero
If your bank receives a checkable deposit of $20,000 . and the banking system makes loans totaling $180,000 . the maximum possible, then the required reserve ratio must be:
a. 0.10. b. 0.20. c. 0.25. d. 0.40. e. 0.50.