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BAM 223 BAM223 Exam 2 with Answers (CCU)


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In the United States, private health insurance companies ________.

The largest government-run health care system in the world, with 1.4 million employees, is in ________.

We can derive the market demand curve for gold earrings ________.

Sunk costs ________.

Which of the following is a factor of production that generally is fixed in the short run?

All of the following cost curves are U-shaped EXCEPT:

The level of output at which all economies of scale have been exhausted is known as ________.

A characteristic of the long run is ________.

Which of the following is a fixed cost?

Which of the following takes place in the direct finance market?

Health problems prevent people from working harder, which can lower a country's total income. This indicates that in effect, health problems ________.

The difference between technology and technological change is that ________.

Which of the following is an experiment which tests whether fairness is important in consumer decision making?

In the United States, consumers usually pay less than the true cost of medical treatment because of ________.

Which of the following is NOT a common mistake made by consumers?

Which of the following is an example of a long-run adjustment?

Which type of business has the LEAST government rules and regulations affecting it?

In the United States, doctors and hospitals that provide most health care are ________.

Price elasticity of demand measures ________.

In many corporations, the managers of the corporation run the corporation, although the shareholders own the corporation. In this situation _________.

Implicit costs can be defined as ________.

How do a sole proprietorship and a corporation differ?

Better health allows people to work harder, which raises a country's total income. This indicates that in effect, better health

Jack Dorsey is the Chief Executive Officer of Twitter as well as a member of Twitter's board of directors. Dorsey is therefore classified as an _________.

On average, people in low-income countries ________ than people in high-income countries.

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