In which regions do recessions, or economic downturns, hit the hardest?
a. Regions that produce more consumer goods.
b. Regions that produce more nondurable goods.
c. Regions that provide more financial services.
d. Regions that produce more capital goods and rely on more housing construction.
d
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Which of the following parties is likely to have the most information about the health of an individual who is trying to purchase a health insurance policy?
A) the employer of the individual who is trying to purchase the health insurance policy B) the individual who is applying for the health insurance policy C) the company that issues the health insurance policy D) All parties in the health insurance market have access to the same level of information.
If, as an entrepreneur, I am earning accounting profits of $50,000 per year and the opportunity cost of my time is $60,000
A) I am earning economic profits of $10,000. B) I am earning economic profits of $50,000. C) I should close my business. D) I am in a long-run equilibrium position.