The federal government is concerned about obesity in the United States. Congress is considering two plans. One will ban the production and sale of "junk food.". The other will increase nutrition-education programs and include substantial advertising campaigns to encourage healthy eating habits. The junk-food ban program
a. and the education program will reduce the quantity of junk food sold and raise the price.
b. and the education program will reduce the quantity of junk food sold and lower the price.
c. will reduce the quantity of junk food sold and raise the price. The education program will reduce the quantity of junk food sold and lower the price.
d. will reduce the quantity of junk food sold and lower the price. The education program will reduce the quantity of junk food sold and raise the price.
c
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At higher interest rates, fewer people or firms will want to borrow. At lower interest rates, fewer people or firms will want to save
a. True b. False Indicate whether the statement is true or false
Deepening human capital involves
a. increasing the number of workers. b. increasing the number of machines per worker. c. increasing the levels of education per worker. d. using more machines than workers.
At the point where the disposable income line intersects the consumption function, saving:
a. equals consumption. b. equals disposable income. c. is less than zero. d. is equal to zero.
Total revenue minus only explicit costs is called
a. accounting profit. b. economic profit. c. average total cost. d. implicit profit.