In 2007, the government spent over $140 billion on transportation, with nearly ______ percent of this amount being spent on the highway system
a. 5
b. 10
c. 35
d. 80
e. 95
D
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For the affected individuals, pecuniary externalities can be as harmful as technological externalities
a. True b. False
When firms negotiate price and market share among themselves in a way that is designed to limit competition, this practice is called
a. horizontal cartelization b. conspiracy to merge c. anticapitalism d. collusion e. illicit conglomeration
Does it make any difference whether health-care expenditures are paid for by the consumer or by a third party (the government or an insurance company, for example)?
a. No; the quantity of health-care service demanded is not influenced by either the price of health care or who is paying for it. b. Yes; consumers of health care will have a stronger incentive to economize when they are buying the service with their own money. c. Yes; consumers of health-care services will have a stronger incentive to economize when the services are paid for by a third party. d. No; health care is an essential service, and therefore, the incentive to economize on it is unaffected by who is paying for the service.
A change in consumers' expectations about the future will shift both the aggregate expenditure curve and the aggregate demand curve.
a. true b. false