If Harry only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that
What will be an ideal response?
He reaped $10,000 of consumer surplus from the transaction.
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A significant slowdown in the growth of productivity persisted in the U.S. economy between
a. 1960 and 1973. b. 1973 and 1995. c. 1973 and 2015. d. 1995 and 2015.
To deal with the financial crisis of 2007-2009, the Fed extended its lender of last resort function to include institutions other than banks
Indicate whether the statement is true or false
Which of the following is not an example of moral hazard?
A. People take poor care of their health because they have health insurance. B. People drive recklessly because they have medical insurance. C. People don't lock their doors because they have theft insurance. D. All of these are examples of moral hazard.
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
a. Unemployment and capital goods production. b. Number of resources and consumption goods production. c. Composition of the economy's output and number of resources. d. Capital and consumption goods production. e. Technology and number of resources.