Between 1960 and 2011, U.S. health care spending as a percentage of domestic output:
A. more than tripled.
B. more than quadrupled.
C. declined by one-half.
D. remained relatively constant.
Answer: A
Economics
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What is the term for the amount of money that a firm receives from the sale of its output?
a. total gross profit b. net revenue c. total revenue d. total net profit
Economics
A purely competitive firm's output is currently such that its marginal cost is $4 and marginal revenue is $5. Assuming profit maximization, the firm should:
A. Cut its price and raise its output B. Raise its price and cut output C. Leave price unchanged and raise output D. Leave price unchanged and cut output
Economics