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Which one is an example of physician-induced demand (PID)?
a. a doctor who gets paid fee-for-service prescribes a procedure to a patient who does not really need it.
b. A doctor who is part owner of an MRI diagnostic clinic who has thoroughly examined a patient and recommends strongly for the patient to get an MRI before prescribing any medication. In an objective second opinion, two additional doctors say the MRI is not needed.
c. a doctor who is part owner of an MRI diagnostic clinic who has thoroughly examined a patient and recommends strongly for the patient to get an MRI before prescribing any medication. In an objective second opinion, two additional doctors say the MRI is needed.
d. all of the above
e. a and b
Determine where each of following increases, decreases, or remains unchanged in short run: market interest rate, quantity of money demanded, investment spending, aggregate demand, potential output, price level and equilibrium real GDP.
Explain how can each of the 10 principles be applied in an example or experience with which you are familiar. How do you intend to use your newfound knowledge in future economic decisions.
Beginning from a steady state in the Solow growth model, explain how an increase in the saving rate will affect the levels and growth rates of capital and output per worker.
Does the existence of “efficiency loss” associated with health care over-consumption mean that citizens are worse off with the government’s provision of this insurance?
What is the level of the M1 stock of money? Suppose the public’s holding of currency increases to $100 while, at the same time, the level of deposits remain constant at $200. What is the value of the new money multiplier (m’)?
A sum of $25,000 is deposited into a savings account, which pays a yearly nominal 8% interest compounded semiannually. Equal annual withdrawals are to be made from the account, beginning 1 year from now and continuing forever. The maximum amount that..
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at a time when demand for ready-to-eat cereal was stagnant a spokesperson for the cereal maker kelloggs was quoted as
A manufacturer of an inspecting and profiling web controller has a capital investment of $200000, a fixed cost of $83000 per year and variable costs of $60 per unit produced. If the product is sold at $90 per unit, determine the breakeven quantity pe..
Suppose the jeans industry is an oligopoly in which each firm sells its own distinctive brand of jeans, and each firm believes its rivals will not follow its price increases but will follow its price cuts. Draw and explain the demand curve facing eac..
What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?
Discuss how each of the 4 factors contributed to the elasticity of the good.
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