According to the 2007/2008 United Nations Human Development Report, the Gini ratio for Portugal is 38.5, Norway is 25.8, the United States is 40.8, and Russia is 39.9. Which of these four countries has the highest level of income equality?

Define moral hazard and adverse selection in the context of health insurance markets. Make sure to discuss why they are problems for health insurance markets

What will be an ideal response?

If a firm in a competitive industry is making no profit but still producing, it must be the case that

a. MC = MR > ATC b. MC = MR < ATC c. MC = ATC > MR d. MC = MR = ATC e. this situation is not possible