Public goods are desired because
A) people want and value them but the private sector will not make them available.
B) we want the government to spend our tax dollars.
C) they came in small units.
D) they make supply equal to demand for private goods.
A
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Which of the following is TRUE?
A) For an inferior good, when income increases, the demand curve shifts leftward. B) The demand curve for a good shifts leftward when the price of a substitute rises. C) If consumers expect the price of a good will rise in the future, the demand curve shifts leftward. D) An increase in population shifts the demand curve for most goods leftward.
Which of the following make(s) insurance premiums higher than otherwise?
a. adverse selection and moral hazard b. adverse selection, but not moral hazard c. moral hazard, but not adverse selection d. neither adverse selection nor moral hazard
Pasta and pizza are substitutes. If the price of pasta decreases, the demand for pizza will __________.
Fill in the blank(s) with the appropriate word(s).
Which of the following is TRUE?
A. APC - APS = 1 B. APC + MPS = 1 C. 1 + APC = APS D. APC + APS = 1