Credit cards do not fulfill the three functions of money
Indicate whether the statement is true or false
TRUE
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In equilibrium, consumers will incur costs to signal their type (in markets with adverse selection) only if this results in a price that is lower than the pooling equilibrium price.
Answer the following statement true (T) or false (F)
The most common explanation for Social Security payments accounting for a larger share of federal government expenditures is
a. increases in life expectancy. b. people becoming eligible for Social Security benefits at an earlier age. c. increases in birth rates among teenagers and the poor. d. falling payroll tax receipts.
Use the table below to answer the following question.UnitsMaximum Willingness to PayMarket PriceMinimum Acceptable Price1$14$8$2212843108648885681064814At what level of output is allocative efficiency achieved?
A. 2 B. 3 C. 4 D. 5
We are maximizing our utility when the ______ of each good and service we purchase is equal to _______.
A. total utility; its price B. marginal utility; its price C. marginal utility; one D. total utility; one