Merit goods are not provided by the market
Indicate whether the statement is true or false
F
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Barbara buys the same market basket each week and spends $60 on it. This week Barbara brought $60 to the store but could not buy her usual market basket. One explanation for this is ________.
A. she became unemployed B. there was an increase in real GDP C. the GDP price index has decreased D. there was inflation
The U.S. dollar will depreciate if the Canadian inflation rate falls from 5 percent to 3 percent
Indicate whether the statement is true or false
When an insurance company specifies certain precautions that an insured person must take it is trying to control for moral hazard.
Answer the following statement true (T) or false (F)
Draw a profit/price trade-off curve that results from moving from a competitive to a monopoly industry organization. Show the equilibrium position for the regulator with a political support function (PS curve). What can we say about prices and profits of the regulated industry if it started as a monopoly?
What will be an ideal response?