Since a tariff can increase employment in an industry, the result is a net increase in total surplus
a. True
b. False
Indicate whether the statement is true or false
False
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Bart operates a lemonade stand in front of his house. His father works at the Springfield Nuclear Power Plant. Which of the following is most likely to be true?
a. The long run is the same for the power plant as it is for the lemonade stand. b. The long run is longer for the power plant than it is for the lemonade stand. c. The long run is shorter for the power plant than it is for the lemonade stand. d. We cannot compare the long runs because these are different businesses. e. It's impossible for the power plant short run to be shorter than the lemonade stand's long run.
When quantities of two goods belong to the same indifference curve, which of the following is true?
a. The combinations of the two goods along the indifference curve yield the same total utility. b. Prices of the two goods are equal. c. Marginal utilities of both goods are equal. d. The total utility of all combinations above the curve equal zero.
Answer the following questions true (T) or false (F)
1. In most circumstances, employees do not pay taxes on the value of health insurance their employers provide them. 2. If consumers paid the full price of medical services instead of using health insurance and third-party payers to cover part of the cost, the quantity of medical services provided would increase. 3. In 2018, a tax is scheduled to be imposed on employer-provided health insurance plans known as 'Cadillac plans.'
A resource that is nonexcludable and rival in consumption is a
A. public resource. B. government resource. C. private resource. D. common resource.