Government goods are delivered "free," which means that they are costless.
Answer the following statement true (T) or false (F)
False
There is an opportunity cost associated with every service the government provides.
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The fraction of a change in disposable income that is spent on consumption is the
A) marginal propensity to consume. B) marginal dissaving ratio. C) expected future disposable income. D) marginal buying power of money. E) marginal propensity to dissave.
Each short-run average total cost curve is tangent at its lowest point to the long-run average cost curve
a. True b. False Indicate whether the statement is true or false
When aggregate demand shifts right along the short-run aggregate supply curve, unemployment
a. falls, so there are upward pressures on wages and prices. b. falls, so there are downward pressures on wages and prices. c. rises, so there are upward pressures on wages and prices. d. rises, so there are downward pressures on wages and prices.
The dominant strategy in the prisoners' dilemma is for
A) neither player to confess. B) both players to confess. C) only the dominant player to confess. D) the dominant player not to confess.