Assume a country produces two types of goods: manufactured goods and agricultural goods. When this country experiences economic growth, we know that
A) the production possibilities curve will shift inward.
B) there will be movement along the curve toward more agricultural goods.
C) there will be a movement along the curve toward more manufactured goods.
D) the production possibilities curve will shift outward.
D
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To have a monopoly in an industry there must be
A) a public franchise, making the monopoly the exclusive legal provider of a good or service. B) an inelastic demand for the industry's product. C) barriers to entry so high that no other firms can enter the industry. D) a patent or copyright giving the firm exclusive rights to sell a product for 20 years.
The two main types of managed care organizations are:
A. U.S. veterans' hospitals and university health clinics. B. health maintenance organizations (HMOs) and private nursing homes. C. health maintenance organizations (HMOs) and preferred provider organizations (PPOs). D. preferred provider organizations (PPOs) and nonprofit hospitals.