Which of the following defer payments?
a. credit cards and debit cards
b. neither credit cards nor debit cards
c. credit cards but not debit cards
d. debit cards but not credit cards
c
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When supply increases and the supply curve shifts to the right, equilibrium price and equilibrium quantity will both increase.
Answer the following statement true (T) or false (F)
Which of the following is NOT an example of an externality?
A. The development of a vaccine for preventing SARS. B. Gas prices that rise in the summer due to increased vacation travel. C. Shipbreaking that industrial nations have exported to less developed countries. D. A factory that dumps dangerous chemicals into Lake Erie.
Black-market prices are below equilibrium prices because sellers want to sell large quantities.
Answer the following statement true (T) or false (F)
The political wisdom of choosing a tariff acceptable to the median U.S. voter is
A) a good example of the principle of the second best. B) a good example of the way in which actual tariff policies are determined. C) a good example of the principle of political negotiation. D) not evident in actual tariff determination. E) usually evident in actual tariff determination.