A major factor contributing to the growth in employee-based health insurance in the United States has been
a. greater than average economic growth leading to increased demand for labor.
b. the tax free treatment of health insurance as an employee benefit.
c. legislation requiring all firms to provide health insurance to all full-time workers.
d. the long standing tradition in the United States of providing a generous package of benefits to all workers.
B
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In the United States between 1981 and 2012, the
A) nominal wage rate increased more than the real wage rate. B) real wage rate increased more than the nominal wage rate. C) nominal and real wage rates increased the same amount. D) real and the nominal wage rates decreased the same amount. E) nominal wage rate decreased and the real wage rate increased.
A profit-maximizing firm will produce the level of output at which:
a. average revenue equals average cost. b. average revenue equals average variable cost. c. marginal revenue equals marginal cost. d. marginal cost equals average revenue. e. marginal revenue exceeds marginal cost by the maximum amount.