(Consider This) Subsidies to encourage hospitals and physicians to adopt electronic medical records have resulted in which of the following?
A. Improved care for a greater number of patients because of the efficiency gains.
B. Reduced health care costs because of the efficiency gains in record-keeping.
C. More patients seen but at a higher cost because of the high fixed cost of the recording devices.
D. Less care at higher costs as the extensive record-keeping process reduces efficiency.
Answer: D
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Suppose Portugal has 700 workers and 26,000 units of capital, and France has 18,000 workers and 700 units of capital. Technology is identical in both countries. Assume that wine is the capitalintensive good and cloth is the laborintensive good. Which of the following statements is CORRECT if the nations start trading with each other?
a. Wages will increase in Portugal. b. Rental rates in France will increase. c. Wages in France will decrease. d. Rental rates in Portugal will increase
For a person to have a comparative advantage in producing a product, he must be able to produce that product at a higher opportunity cost than his competitors
Indicate whether the statement is true or false