If the government allowed a free market for transplant organs such as kidneys to exist, the
a. shortage of organs would be eliminated, and there would be no surplus of organs.
b. shortage of organs would be eliminated, but a surplus of organs would develop.
c. shortage of organs would persist.
d. overall well-being of society would remain unchanged.
a
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Office workers and word processing programs are complements if:
A. a decrease in the wage paid to office workers leads to an increase in the demand for word processing programs. B. a decrease in the wage paid to office workers leads to a leftward shift in the demand for word processing programs. C. an increase in the price of word processing programs leads to an increase in the demand for office workers. D. they perform similar functions.
Refer to the scenario above. Based on the given information, we can conclude that the market for used cars has ________
A) information asymmetry B) a perfectly competitive structure C) positive externalities D) negative externalities
When money is used to set the value of goods such as cars, DVD players, and TVs, money is serving as a
A. medium of exchange. B. standard of value. C. store of value. D. standard of deferred payment.
If labor is measured along the horizontal axis and capital is measured along the vertical axis, an increase in the wage rate will cause the isocost line to:
A. rotate clockwise, causing the firm to use less labor and more capital. B. rotate counterclockwise, causing the firm to use less labor and more capital. C. rotate clockwise, causing the firm to use less capital and more labor. D. rotate counterclockwise, causing the firm to use less capital and more labor.