Other things the same, an increase in taxes with no change in government purchases makes national saving
a. rise. The supply of loanable funds shifts right.
b. rise. The demand for loanable funds shifts right.
c. fall. The supply of loanable funds shifts left.
d. fall. The demand for loanable funds shifts left.
a
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Which of the following is a difference between an oligopoly with homogeneous products and an oligopoly with differentiated products?
A) There are a large number of sellers in an oligopoly with homogeneous products and there are a few sellers in an oligopoly with differentiated products. B) Firms in an oligopoly with homogeneous products earn positive economic profits in equilibrium, while firms in an oligopoly with differentiated products earn zero economic profits. C) There are huge barriers to entry in an oligopoly with homogeneous products, while there are no barriers to entry in an oligopoly with differentiated products. D) Firms in an oligopoly with homogeneous products earn zero economic profits in equilibrium, while firms in an oligopoly with differentiated products earn positive economic profits.
Which of the statements below best expresses the relationship between the cost of a medical education and the fees charged by physicians?
A) The greater the average cost of a medical education, the higher will be the fees physicians charge. B) The greater the cost of a physician's education in both money and effort, the higher will be the fees they can legitimately set for their services. C) The greater the cost to physicians of a medical education in both money and effort, the higher will be the fees they will charge in order to recover the costs they incurred. D) The greater the expected cost of a medical education, the fewer physicians there will be and the higher their fees will be.