Which of the following is not a result of a reduction in the federal budget deficit?
A) a higher real interest rate
B) a depreciation of the currency
C) a rise in exports
D) a rise in the price of foreign inputs
A
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Goods that are very useful and highly desired are likely to be relatively expensive, no matter how scarce or abundant they are
Indicate whether the statement is true or false
According to the Coase theorem,
a. government intervention is necessary in order to solve an externality problem b. an externality is a form of market failure c. under certain conditions, the private market will solve externality problems efficiently d. the private market will usually solve externality problems, except when side payments are necessary e. negative externalities are less efficient that positive externalities
The lower the price of medical care in general, the higher the ____________________________ medical care and the ______________________ specific items that make up medical care (such as x-rays). The result will be a _______________ price for the specific items that make up medical care
A) quantity demanded of; higher the demand for; higher B) demand for; higher the demand for; higher C) quantity demanded of; lower the demand for; lower D) demand for; higher the quantity demanded of; higher
Explain why GDP figures do not necessarily measure happiness or well-being