The free-rider problem makes a good profitable to provide by a private firm.
Answer the following statement true (T) or false (F)
False
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Before an uneven rise in prices Allan consumed 5 bread and 6 juice. After the price increase and with an increased welfare payment from the government Allan consumes 4 bread and 7 juice
Does the government payment represent a true cost-of-living adjustment (COLA)? A) Yes, if the two consumption bundles lie on the same indifference curve. B) Yes, if the second bundle yields more utility than the first. C) No, the first bundle is clearly preferred. D) Not enough information.
During the 1980s, assets in the Social Security system fell so low they covered less than two months o f benefit payments
a. True b. False
Consumption reflects _____
Fill in the blank(s) with the appropriate word(s).
If the supply of a good increases, the equilibrium price of that good
A. rises while quantity demanded also rises. B. falls while quantity demanded also falls. C. rises while quantity demanded falls. D. falls while quantity demanded rises.