A surplus is said to exist when, at prevailing prices,
A) demand is greater than supply.
B) quantity supplied is greater than quantity demanded.
C) scarcity is eliminated.
D) supply and demand are in harmonic equilibrium.
B
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If a policy is carried out by a rule, then we have an example of
A) active policy making. B) discretionary policy making. C) nondiscretionary policy making. D) natural policy making.
Medical malpractice law is designed to
a. encourage physicians to act as responsible agents for their patients b. punish those providers guilty of intentional misconduct c. provide an income for the insurance firms who sell malpractice insurance d. none of these choices
The interest rate on U.S. government securities is often called the
a. prime rate b. public discount c. riskless rate d. superior rate e. universal discount
Which of the following is a factor of production for the Little Biscuit Bread Company?
A. Flour. B. Productivity. C. Bread. D. Money.