Consider the following products. Which of them has the flattest demand curve?
A) insulin
B) alcohol
C) cigarettes
D) butter
D
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A socially optimal public health policy should expand the proportion of the population vaccinated:
A. until the marginal benefit of an additional vaccination is greater than the marginal cost of an additional vaccination. B. whenever the marginal benefit of an additional vaccination is positive. C. until the marginal benefit of an additional vaccination equals zero. D. until the marginal cost of an additional vaccination equals the marginal benefit of an additional vaccination.
Classical economists perceive that
A. investors' expectations about returns on investment are unstable. B. large investment swings are responses to small changes in interest rates. C. the best way to cure unemployment is to start a war. D. the proper cure for unemployment is active fiscal policy.
Recall the Application about how the collapse of the housing boom and the worldwide recession of 2007 led to problems for some countries in the Euro-zone to answer the following question(s). When the euro was launched in 1999, the vision of its founders was to use the monetary union to further unify Europe economically and politically. They envisioned a large economic market, comparable to the United States with integrated goods and financial markets. They believed that by moving to a single currency with agreements on a number of fiscal rules that they could achieve economic stability and growth.Recall the Application. Greece faced a major financial crisis in 2010 as its budgetary imbalance became quite severe. Since Greece is a member of the Euro-zone, it could no longer ________ as a
potential solution to its financial problems. A. depreciate its currency B. cut spending C. raise taxes D. reduce wages and prices
If workers suddenly decide to value more their leisure time than before, this
A) shifts the labor supply curve to the left, resulting in a wage increase and less workers hired. B) shifts the labor supply curve to the right, resulting in a wage increase and less workers hired. C) shifts the labor supply curve to the left, resulting in a wage decrease and less workers hired. D) shifts the labor supply curve to the right, resulting in a wage increase and more workers hired.