Tag: Economics – Others

Question 4
Social security, workers’ compensation, unemployment insurance, family and medical leave, and health-care programs are all forms of benefits.
monetary
legally required
preferred
recommended

QUESTION 73If a change in price causes total revenue to change in the same direction, we can conclude that the demand is:A. price elastic.B. price unit elastic.C. normal.D. price inelastic.

National income, or gross domestic product, is used for which of the followingGroup of answer choices
Consumption
Government spending (e.g., taxes)
Savings, or investment
All of these
None of these

In GDP accounting, household purchases of appliances (such as ovens and washingmachines) are classified as:
a) housing services
b) durables consumption
c) investment
d) nondurables consumption

Gina acts as if she maximizes U=x12y12 with income Y=16, and prices px=1 and py=1. What is the substitution Effect (change inconsumption of x ) of an increase in the price of x to px’=2 ?

For a market to be considered a differentiated product oligopoly, there must be. Please check all that apply.
very many firms
no barriers to entry
significant barriers to entry
few firms
only one firm

If the quantity of dental services demanded increases by 10 percent when theprice of dental services falls by 10 percent, is the demand for dental servicesinelastic, elastic, or unit elastic

Question 29What is market equilibrium?
the highest point on a supply curve
the summation of demand values
the lowest point on a demand curve
the point in which the supply and demand curve intersect

Question 51 ptsCompared to other countries, the United States spends about the same percentage of its Gross Domestic Product on health care as does Great Britain, Germany, and Canada.TrueFalse

An engineer plans to borrow $8,000 to be repaid in 36 equal monthly installments. The interest is3.25% per quarter, compounded monthly. How much money must the engineer repay each month?