Which of the following statements about state lotteries is false?
A. State lotteries are monopolies, with competing private lotteries banned
B. State lotteries are highly controversial, with critics and defenders still debating their merits
C. Less than half of the states in the U.S. have state lotteries because of their controversial nature
D. The payout rates of state lotteries are substantially lower than in private betting operations like casinos
C. Less than half of the states in the U.S. have state lotteries because of their controversial nature
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In a simple Keynesian model, an increase in income leads to an increase in
A) savings. B) investment. C) the price level. D) the money supply.
"Any tax cut to increase demand for output should favor lower-income people" is a ________ statement about ________ policy.
A. normative; monetary B. normative; fiscal C. positive; monetary D. positive; fiscal
For a monopolist, the price of the product
A. always equals the marginal revenue. B. is always less than the marginal revenue. C. exceeds the marginal revenue. D. always equals the marginal cost of the product.
Which of the following statements about the distribution of physicians among specialties is true in the United States?
a. The majority of physicians specialize in general/family practice. b. There are twice as many generalists as there are specialists. c. There are twice as many specialists as there are generalists. d. The specialty distribution in the U.S. is similar to that of the rest of the world. e. None of the above.