Who benefits from a subsidy to buyers?
A. Only sellers benefit from any kind of subsidy.
B. Only consumers benefit, since it is their subsidy.
C. The benefit is shared depending on the elasticity of the supply and demand curves.
D. None of these statements is true.
C. The benefit is shared depending on the elasticity of the supply and demand curves.
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All of the following could immediately or eventually lead to an inward shift of a nation's production possibilities curve, except:
A. emigration of skilled workers to other nations. B. a decline in the birth rate. C. an increase in the average skill level of all occupational groups. D. depletion and reduced availability of major energy resources.
________ goods are rival in consumption and their benefits are excludable.
A. Public B. Private C. All D. Social
A public good:
A. can never be provided by a nongovernmental organization. B. cannot be provided to one person without making it available to others too. C. generally results in substantial spillover costs. D. costs essentially nothing to produce and thus is provided by the government at zero price.
Sarah is a high school graduate and James is a college graduate. Which of the following statements is true?
A) Sara is likely to have more human capital than James. B) James is likely to have more human capital than Sara. C) Both Sara and James are likely to earn the same wage in the labor market. D) Both Sara and James are likely to have the same amount of human capital.