Which of the following is TRUE regarding the effect expected future income has on saving?
I. As expected future income increases, saving increases.
II. Young people typically save very little.
III. Middle aged people, earning higher incomes, are not very big savers.
A) I and III
B) II only
C) III only
D) II and III
B
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Which of the following can prevent markets from reaching efficiency? I. price regulations that cap the price that may be charged II. increasing marginal cost III. monopoly
A) I only B) I and II C) II and III D) I and III
Which is not a factor of production?
a. Capital b. Money c. Land d. Labor
If the use of fossil fuels is harming our nation, according to the specificity rule the optimal policy to use to mitigate this harm is to
A. tax the consumption of fossil fuels. B. levy taxes on the extraction of coal and petroleum. C. subsidize research and development on alternate fuel sources. D. impose tariffs on the importation of fossil fuels.
Your authors argue that empathy, courtesy, and tolerance
What will be an ideal response?