econ

which is not an example of ????

I believe something with the army, social security, wellfare and unemployment are good

Assume prices of commercial airline tickets have fallen in recent months. Over this same period, the price of jet fuel has risen and consumer incomes have fallen. Which of the following best explains the falling prices of airline tickets?

The demand curve for airline tickets has shifted to the left more than the supply curve has shifted to the left.

If a hospital knows that an insurance company will pay for most of a patient's bill, the hospital has more of an incentive to require additional medical procedures and tests, even if the patient may not require them. This is an example of

The principle-agent problem

A transfer payment is

a form of government spending that is not made in exchange for a currently produced good or service.

In Venezuela

above; shortages

People who are "poor health risks" wish to buy health insurance while many people who are "good health risks" do not buy insurance. This problem is an example of

adverse selection.

the underground economy

buying and selling of goods and services that is concealed from the government to avoid taxes or regulations or because the goods and services are illegal

The purchase by a foreign government of an airplane produced in the United States is included in U.S.

net exports.

Textbook examples of trade show how two nations both benefit from trade in goods. These examples are not completely realistic because factors of production may instead move across borders in response to differences in wages and profits. A country with a large supply of unskilled workers and relatively little capital is likely to have___ of workers and ____of investors vis-a-vis

outflows...inflows

The value added of CANOES-R-US for each canoe equals

possibly, 500, could be different numbers

For the purpose of calculating GDP, investment is spending on

capital equipment, inventories, and structures, including household purchases of new housing.

If the government implements a price binding ceiling on insulin this will?

decrease the quantity of insulin the manufacturers will be willing to supply.

what would happen in the market for knee-replacement surgery

demand will decrease, but this will not shift the supply curve

article summary

he burden of the tax will fall primarily on the least elastic side, suppliers or buyers. ( all of the above on practice test includes, quantity of cigarettes would fall, and estimates of tax revenue will fall short

For an economy as a whole, ________

income must equal the value of output.

under current tax laws, people do not pay taxes on health insurance benefits they receive from their employers, as a result

individuals are encouraged to want generous health coverage that reduces their incentives to cut costs.

A goal of ______ of health care system is to give patients an incentive to pay more attention to the prices of medical services

market-based reforms

If property rights are not well enforced, all of the following are likely to occur except

significant number of people

textbook examples of trade between two nations are simplified in order to show how two nations benefit from trade. these examples might be misleading because?

some individuals in both countries may be worse off from trade

If Sweden exports cell phones to Denmark and Denmark exports butter to Sweden, which of the following would explain this pattern of trade?

sweden has a lower opportunity cost of producing cell phones than denmark and denmark has a comparative advantage in producing butter

Increases in the minimum wage are intended to raise the incomes of low-income workers. Manyeconomists favor a different policy to achieve this goal, a policy that avoids the deadweight losses that result from the minimum wage. What is this policy?

the earned income tax credit for low-income tax filers

Suppose in 2014, you purchase a house built in 2003. Which of the following would be included in the gross domestic product for 2014?

the value of the services of the real estate agent

In the United States in 2014(2016), the percentage of people who recieved health insurance through their employer was about

55%, 49%

According to the table above, which appears to be the base year for real GDP?

2005, could be different, choose one where the numbers are the same

In the United States in 2014(2016), the percentage of people with some form of health insurance was about

90%, 91%

which of the following is a consequence of the minimum wage laws

Some employers will be reluctant to hire as many workers as they would without a minimum wage.