When a tax is imposed, the loss of consumer surplus and producer surplus as a result of the tax exceeds the tax revenue collected by the government
a. True
b. False
Indicate whether the statement is true or false
True
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Private markets will lead to a ________ vaccination rate because:
A. suboptimally low; the external benefit of being vaccinated would not fully be taken into account by decision makers. B. suboptimally high; the external cost of being vaccinated would not fully be taken into account by decision makers. C. socially optimal; price serves as a signal of marginal benefit and marginal cost. D. inequitable; health care services should not be provided based on ability to pay.
Which of the following statements is true?
A) All economic agents are necessarily individuals. B) A worker who shirks work is not an economic agent. C) A government is an example of an economic agent. D) A street gang is not an economic agent.
Refer to Figure 2-1. ________ is (are) inefficient in that not all resources are being used
A) Point A B) Point B C) Point C D) Points A and C
A bank can legally hold reserves as: a. gold and coins
b. gold and checks. c. cash in its vault and non-interest-bearing reserve deposits at the Fed. d. gold and non-interest-bearing reserve deposits at the Fed. e. U.S. government securities and coins.