If ink and cartridge are consumed in specific proportion, the indifference curve for ink and cartridge is likely to be _____
a. a straight line
b. downward sloping
c. L-shaped
d. U-shaped
c
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John receives a marginal benefit of $80 from one missile. Nick receives a marginal benefit of $50 from one missile. Christina receives a marginal benefit of $65 from one missile. John, Nick, and Christina are the only people in the economy
What is the economy's marginal social benefit from one missile? A) $50 B) $65 C) $80 D) $195
Experiments:
A. make it easier to determine whether people's choices are consistent with standard economic theory, but can make it harder to establish causality. B. often make it easier to establish causality, but can make it harder to determine whether people's choices are consistent with standard economic theory. C. make it easier both to establish causality and to determine whether people's choices are consistent with standard economic theory. D. make it harder both to establish causality and to determine whether people's choices are consistent with standard economic theory.
The federal government's role as the provider of national defense is justified by considerations of
A. Private goods. B. Inequity. C. Public goods. D. None of the choices are correct.
Which of the following is not a characteristic of the U.S. health care system in comparison to health care systems in other countries?
a. Large numbers of people lack health care insurance. b. The United States spends more on health care per person. c. The United States relies more on private health care. d. The United States is the only country with a single-payer system.