Providing medical services for smaller fees to the poor than to the rich is
a. misplaced charity.
b. benevolent pricing.
c. price discrimination.
d. social pricing.
c
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Points outside the production possibilities curve represent combinations of products that are
A) unattainable. B) attainable only if the economy's resources are not fully employed. C) attainable if the economy's resources are either fully employed or not fully employed. D) attainable only if the economy's resources are fully employed.
The EPA’s Endangerment finding
a. had no effect on GHG regulation in the United States b. asserted that GHGs posed a threat to the health and welfare of current and future generations c. argued that GHGs present no danger to public health and welfare d. indicated that only HFCs could endanger public welfare and recommended that they be banned from production and consumption
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
In the case of rent-seeking behavior in a monopolistic market:
A. the net loss to society is greater than it would have been in the absence of rent-seeking behavior. B. the net loss to society is less than it would have been in the absence of rent-seeking behavior. C. the net loss to society is the same as it would have been in the absence of rent-seeking behavior. D. monopoly profit is higher than if the monopolist did not engage in rent-seeking behavior, but the net loss to society is lower.