People are forced to economize because of
A. competition.
B. pressure to conform.
C. scarcity.
D. the absence of money.
C. scarcity.
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The per se rule would have not found a well-behaved, but gigantic, firm to be in violation of the antitrust laws
a. True b. False Indicate whether the statement is true or false
Which of the following statements is normative?
A. A large budget surplus is likely to lower interest rates. B. High taxes tend to decrease saving. C. When the Federal Reserve increases the money supply, interest rates decrease. D. Large budget deficits should be avoided.
Compared with the market clearing price of a health care service covered by Medicare, the Medicare program pays a ________ price to health care providers and charges a ________ price to consumers
A) lower, lower B) lower, higher C) higher, lower D) higher, higher
Answer the following questions true (T) or false (F)
1. Marginal benefit is the benefit that your activity provides to someone else. 2. If it costs Vijay $150 to design 5 Web sites and $175 to design 6 Web sites, then $175 is the marginal cost of producing the 6th Web site. 3. Suppose the extra cost for a municipality to enact a "no texting while driving" law is $15,000 per year. Then, the municipality should enact the law if it receives a total benefit from all of its traffic laws of $15,000 per year.