Is it possible for mandatory seatbelt laws to increase vehicle fatalities?
A) Yes, if the number of accidents increases by a greater percentage than the number of deaths per accident decreases.
B) No, because wearing seatbelts decreases the number of deaths per accident.
C) No, because wearing seatbelts decreases the number of accidents.
D) There is not enough information to answer the question.
A
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Normative economics often takes a consequentialist philosophical approach to determine whether a policy is good. ?
Answer the following statement true (T) or false (F)
Suppose Target decided to lower the price on all shirts as part of its Back to School promotion. The cross elasticity of demand between pants and shirts is negative
Lowering the price on shirts will ________ the demand for pants because shirts and pants are ________. A) increase; substitutes B) decrease; substitutes C) increase; complements D) decrease; complements
Suppose you have saved $300 . You can spend it on a new stereo or on a weekend skiing trip. What is the opportunity cost of going on the skiing trip?
What will be an ideal response?
Social cost is the sum of private cost and
a. price b. quantity c. supply d. demand e. external cost