Which of the following correctly describes the external benefit resulting from an individual's purchase of a winter flu shot?
a. The flu shot is cheaper than the cost of treatment when you get the flu.
b. The income of doctors increases when you get the flu shot.
c. The flu shot reduces the likelihood others will catch the flu.
d. The flu shot reduces the likelihood you will miss work as the result of sickness; therefore, you will earn more income.
C
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A point along a production possibilities curve shows
A. that in order to acquire more of one good, none of the alternative good must be given up. B. that in order to acquire more of one good, some of the alternative good must be given up. C. that any amount of goods could be produced by society if people worked harder. D. various combinations of guns and butter that can be produced under conditions of 6 percent unemployment.
A principal feature of a command economy is that
A country with an undervalued currency
A. will have a balance of payments deficit. B. will accumulate reserves of foreign currencies. C. will suffer losses of foreign reserves. D. must intervene in the foreign-exchange market to buy its own currency.
Which of the following is most likely to increase the money wages that will be required to attract a given number of workers into a job category?
a. the employer does not discriminate. b. the work is widely viewed as being stressful and dangerous. c. the job is widely viewed as prestigious. d. the employer provides child care on the premises.