Consider the hypothetical supply and demand of Kidneys.
Initially, Kidney exchanges are regulated to donations only. This means kidneys can only be exchanged at a price of zero. What is the deadweight loss from this restriction?
A. $0
B. $825,000
C. $1,350,000
D. $1200
B. $825,000
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When a budget is not approved in time, _____
a. agencies operate on the basis of continuing resolutions b. agencies operate on the basis of a budget resolution developed by budget committees c. agencies tend to shuts down d. the President can force Congress to act e. agencies borrow from the Federal Reserve
As an additional consumer obtains the benefits of a public good such as national defense, the benefits to existing consumers: a. decline
b. increase. c. increase in the short run, but decrease in the long run. d. do not change.
In which of the following situations can a firm or individual apply for a patent?
A. A firm develops a new tool that makes cutting grass much easier. B. An author publishes a new novel. C. Nicki Minaj, a recording artist, releases a new CD in the market. D. All of these are activities that can be patented.
Which of the following factors are considered under "new growth theory"?
A. technology B. innovation C. research D. All of these are correct.