Antibiotics may be ________ since people consider only the ________.
Fill in the blank(s) with the appropriate word(s).
Answer: overused; private and not the social costs of consumption
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Which of the following statements is TRUE about the long-run and short-run aggregate supply curve in the classical model?
A) The long-run aggregate supply curve is vertical, and the short-run curve is horizontal. B) The long-run aggregate supply curve is not defined, and the short run curve is vertical. C) The long-run and short-run curves start out horizontal and eventually become vertical. D) The long-run curve is vertical, and there is no short-run curve since all adjustments occur quickly.
In the short run, we assume that the number of firms in a perfectly competitive market:
A. varies if perfect information is present. B. varies more than the long-run equilibrium. C. is fixed. D. is equal to the number of firms in the long-run.
Rent controls primarily benefit
A) property owners. B) people looking for rental units. C) builders. D) people who already occupy rental units.
A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut
A) increase; more B) increase; less C) decrease; more D) decrease; less