As more people quit smoking in the United States, what is expected to happen to the price elasticity of supply of cigarettes?
A) It will decrease.
B) It will increase.
C) It can increase or decrease.
D) It will not change.
A
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College education tends to result in a positive externality because the recipient receives the full benefit of the education
Indicate whether the statement is true or false
A surprising outcome of the Rock-Paper-Scissors game is that
A) it is a clear example of a first mover advantage. B) there is no pure-strategy Nash equilibrium. C) it is best not to play the game. D) it is a good way to determine who goes first in a sequential move game.
An economic justification for government providing public goods and services is that many people can benefit regardless of whether they pay or not
a. True b. False Indicate whether the statement is true or false
The summary of the flows of goods, services, assets, and currency in and out of a country in a particular year is the
a. balance of income statement. b. balance of payments. c. balance of trade. d. trade deficit.