Demand curves are negatively sloped when people buy:
A. less as the price decreases.
B. more as the price increases.
C. less as incomes decrease.
D. more as the price decreases.
Answer: D
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During the 1930s,
a. ordinary citizens were not allowed to hold gold. b. the US government fixed the price at which the Treasury would by and sell gold. c. production of gold soared. d. All of the above are correct. e. Only a and b are correct.
All of the following, except one, can be a barrier to entry into an oligopoly market. Which is the exception?
a. heavy advertising by existing firms b. zoning regulations c. excess production capacity among existing firms d. tariffs and quotas e. a small minimum efficient scale
Will reducing pollution to zero in a particular industry be economically efficient?
a. Never b. Always c. Yes, as long the marginal costs of pollution reduction exceed the marginal benefits d. Yes, as long as the marginal benefits of pollution reduction exceed the marginal costs e. Yes, as long as the total benefits of pollution reduction exceed the total costs
The Congressional Budget Office estimates that ________ of the increase in federal spending on Medicare and Medicaid over the next 75 years will be due to increases in the cost of providing health care
A) very little B) less than half C) most D) all