Merit goods
a. are goods that everyone wants
b. can be produced and sold on the private market
c. are only sold on private markets
d. are only produced by the government
e. are distinguished from other goods by having more merit
B
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Deposit insurance is a system in which the government guarantees that:
A. people can have deposits at commercial banks. B. commercial banks will not lose any deposits. C. depositors will not lose any money even if their bank goes bankrupt. D. commercial banks will not go bankrupt.
The maximum price that a buyer is willing to pay for a good measures his
A) producer surplus. B) willingness to pay. C) consumer surplus. D) marginal benefit.
The estimate of potential GDP would decrease if
a. the rate of capital depreciation increased. b. the labor force decreased. c. the price level grew. d. All of the above would increase potential GDP.
The heavy reliance on private health insurance in the U.S. began during World War II, as a:
A. Legal requirement for employment B. Patriotic duty of firms C. Way of imitating European employment practices D. Response by employers to the wage controls in effect then