Which economy managed to eliminate economic profits and losses?
A) Socialist Cuba
B) Socialist China
C) Fascist Italy
D) Nazi Germany
E) None of the above.
E
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Jane started eating more junk food and taking less care of her health after she bought life insurance. Her behavior is an example of ________
A) moral hazard B) adverse selection C) the paradox of thrift D) the free-rider problem
If Ewan is consuming his utility maximizing bundle and the price of one good falls, what happens to the marginal utility per dollar spent on this good (MU/P), and what should Ewan do?
A) MU/P has increased and Ewan should buy more of this good. B) MU/P has decreased and Ewan should buy more of this good. C) MU/P has increased and Ewan should buy less of this good. D) MU/P has decreased and Ewan should buy less of this good.
A U.S. family earning $80,000 would be in the top 20 percent of income distribution in 2011
a. True b. False Indicate whether the statement is true or false
If net taxes are decreased by $500 billion, and the marginal propensity to consume is 0.80, then which of the following correctly describes the increase in real GDP that will be generated by the decrease in net taxes?
a. $2 trillion b. $1 trillion c. $500 billion d. $400 billion