What are the problems associated with the sale of human organs?
There are several problems with the sale of human organs. First, there may be an asymmetric information problem. When people receive money for their organs, they might hide "adverse" information about their health history. Second, there is the equity issue of allocating human organs on the basis of willingness to pay. Third, it is also likely to increase heath care spending as patients and insurance companies would have to pay a higher price.
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Suppose the demand curve for a product is downward sloping and the supply curve is upward sloping. If a unit tax is imposed in the market for this product,
A) sellers bear the entire burden of the tax. B) the tax burden will be shared among the government, buyers and sellers. C) the tax burden will be shared by buyers and sellers. D) buyers bear the entire burden of the tax.
Why is it more expensive to acquire a new house in an urban area than in a rural area if the costs of labor and building materials are the same?
One of the reasons that Real Gross Domestic Product is not synonymous with social welfare is
A. people substitute between goods. B. quality has remained steady. C. things produced by people under 18 are not counted. D. it treats all spending the same (spending on military hardware is treated the same as spending on education).
Why do free trade proponents applaud successful trade deflection?
A) It circumvents trade restrictions within regional trade blocs. B) It increases trade restrictions within regional trade blocs. C) It promotes more rules of origin laws. D) It decreases incentives for trade diversion.