In order to increase society's well-being, education might be
a. taxed to discourage production
b. subsidized to encourage production
c. taxed to encourage production
d. subsidized to discourage production
e. provided without government intervention
B
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When tastes are risk loving, a person will always choose a gamble that is riskier over one that is less risky.
Answer the following statement true (T) or false (F)
Keynes called the money people hold in order to pay unforeseen or unexpected expenses the:
a. transactions demand for holding money. b. precautionary demand for holding money. c. speculative demand for holding money. d. store of value demand for holding money.
(Figure: Shocks and Integration) Suppose that policymakers in Colombia, Peru, and Uruguay care only about being able to use policy in response to shocks? Using the graph, which of the following is most likely to join a currency area with the other countries?
A) Colombia B) Peru C) Uruguay D) Peru and Colombia
If an effective ceiling price is placed on hamburgers, then:
A. the quantity demanded will exceed the quantity supplied. B. a black market for hamburgers may evolve. C. consumers may want government to ration hamburgers. D. All of these are likely outcomes.