Which of the following reasons for making drug sales illegal do economists generally endorse?
A. That addictive drugs do not allow for people to learn from the mistake of taking them.
B. The harm that addictive drugs do to innocent victims and that they do not allow for people to learn from the mistake of taking them.
C. The harm they do to innocent victims.
D. The harm they do to people who knowingly take them.
Answer: B
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market with four firms in competition with each other has a equilibrium price of $25 and equilibrium quantity of 200,000. If the four firms form a cartel, the cartel, set price will be ________ than $25 and the set quantity will be ________ than 200,000.
A) greater; less B) less; greater C) greater; greater D) less; less
When a nation begins to import a good,
a. the domestic price of that good will fall b. domestic consumers are harmed c. the domestic price of that good will rise d. domestic producers benefit e. the quantity produced domestically will rise
Which of the following would be an example of capital for a retail gasoline station? (i) the gas tanks and pumps (ii) the service attendants' time (iii) the plot of land on which the station sits
a. (i) only b. (iii) only c. (i) and (iii) only d. (ii) and (iii) only
Refer to the below table. Assume that health insurance pays two-thirds the cost of health care. For the consumer, the price and quantity of health care consumed would then be:
Use the table below to answer the question. The table shows the hypothetical demand and supply schedule for health care
A. $300 and 400 units
B. $300 and 600 units
C. $200 and 700 units
D. $200 and 300 units