A discount bond selling for $15,000 with a face value of $20,000 in one year has a yield to maturity of

Diminishing marginal returns occur when:

A) units of a variable input are added to a fixed input and total product falls. B) units of a variable input are added to a fixed input and marginal product falls. C) the size of the plant is increased in the long run. D) the quantity of the fixed input is increased and returns to the variable input fall.

The French respect individual freedoms even as they accept collective action to reach important national goals of social solidarity and equality. What has been the major cost of a government-run system in France?

a. The long waiting lists of expensive medical services. b. The high out-of-pocket spending with over 90 percent of the population purchasing supplementary private insurance. c. An erosion of the incomes of physicians relative to those of the average wage and salary worker. d. An erosion of physician autonomy in making treatment decisions. e. Both b and c are true.