A market-clearing curve for a good:
A. shows the quantities supplied and demanded for a particular product.
B. shows the combinations of prices, both for that good and for other related goods, that bring supply and demand for the good into balance.
C. shows the quantities supplied and demanded for all goods.
D. shows equilibrium in a particular market.
B. shows the combinations of prices, both for that good and for other related goods, that bring supply and demand for the good into balance.
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Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. In this case, the property rights belong to
A) Angus. B) Dudley. C) no one. D) both Angus and Dudley.
If tax cuts are stimulative, tax increases are
A. reactionary. B. contractionary. C. deflationary. D. inflationary.
Which of the following is a provision of the Patient Protection and Affordable Care Act?
A. Insurance companies may not legally deny coverage to anyone on the basis of a preexisting medical condition. B. Every firm must purchase health insurance for their employees or face a $2,000 fine per employee. C. Every individual must purchase their own health insurance for themselves and their dependents or pay a fine. D. Adult children of parents with employer-provided health insurance can remain covered by their parents' insurance through age 35.
Providing stock options to corporate managers was an idea designed to:
A. hide increases in pay of corporate executives from stockholders. B. align managers' interest with the stockholders' interest. C. treat the free-rider problem. D. treat adverse selection.