Costs associated with economic growth include all of the following EXCEPT
A. improved health care.
B. environmental pollution.
C. psychological problems such as depression.
D. urban congestion.
Answer: A
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Economists often analyze the interaction of individuals and firms in markets
Economists also examine the actions of individuals and firms as they attempt to use government to make themselves better off at the expense of others, a process that is referred to as A) the public choice initiative. B) rent seeking. C) logrolling. D) government failure.
Technological efficiency is
A) a necessary and sufficient condition for profit maximization. B) a sufficient but not necessary condition for profit maximization. C) a necessary but not sufficient condition for profit maximization. D) a theoretical construct with little connection to the real world.
When we consider our savings, interest rates _________ and inflation rates ___________ the value.
A. increase; decrease B. decrease; increase C. increase; increase D. have no real effect; decrease
The typical state spends the most on
a. education. b. Medicare and Social Security. c. highways. d. defense.