If a society gets more capital, its production possibility curve increases.
Answer the following statement true (T) or false (F)
True
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Which of the following is not a major function of the Federal Reserve System?
A) setting income tax rates B) controlling the money supply C) lender of last resort D) clearing checks between banks
The free-rider problem is encountered when
A) someone benefits from the consumption of a public good without paying his or her full share. B) all individuals who consume a public good pay for it. C) all goods consumed and produced are private goods. D) all individuals are willing to pay for what they consume.
U.S. immigrants (legal and illegal) have:
A. higher prison rates and crime rates than the native-born population. B. lower prison rates and crime rates than the native-born population. C. lower prison rates, but illegal immigrants have higher crime rates than the native-born population. D. higher prison rates, but lower crime rates, than the native-born population.
A concert-goer who had been willing to pay up to $150 for a ticket, but who pays a scalper $125 for one, experiences a consumer surplus of $25
Indicate whether the statement is true or false