Which of the following is an entitlement program?
A) Social Security
B) Medicare
C) Medicaid
D) all of the above
E) none of the above
D
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The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States
Indicate whether the statement is true or false
What is one reason it might be difficult to dissuade people from pirating music off the Internet?
A) Consumer surplus is very high when music is pirated. B) In general, consumers get a rush from "stealing." C) Consumers mistakenly believe that the Internet is public domain. D) Producer surplus is very low when music is pirated.
The perfectly competitive firm’s short-run shutdown rule is to shut down immediately if
A. TR < TC. B. TR < SRFC. C. TR < SRVC. D. TR < MC > Q.
The optimal quantity of pollution control occurs where: a. pollution equals zero
b. the total benefit of pollution control equals the total cost. c. the marginal social benefit of pollution control just equals the marginal social cost. d. the marginal external cost of pollution equals zero.