The problems of thin markets can be addressed by:
A. guaranteed price matching.
B. increasing the number of sellers in the market.
C. imposing price ceilings.
D. warranties and repair guarantees.
Answer: D
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Government spending on transfer payment programs such as public assistance and agriculture are governed by the principles of
a. efficiency and accountability b. nonexclusivity and nonrivalry c. private and social d. equity and stability e. taxation and subsidies
Is it possible for mandatory seatbelt laws to increase vehicle fatalities?
A) Yes, if the number of accidents increases by a greater percentage than the number of deaths per accident decreases. B) No, because wearing seatbelts decreases the number of deaths per accident. C) No, because wearing seatbelts decreases the number of accidents. D) There is not enough information to answer the question.
Suppose that at the prevailing yen-dollar exchange rate there is an excess demand for dollars. To stabilize exchange rates, the United States might
A. Lower taxes. B. Raise interest rates. C. Pursue contractionary monetary policy. D. Reduce government spending.
Refer to the information provided in Figure 23.1 below to answer the question(s) that follow.
Figure 23.1Refer to Figure 23.1. The ________ for this household is 0.5 and the ________ is also 0.5.
A. MPC; MPS B. consumption function; saving function C. MPS; saving function D. MPC; consumption function