Price increases always reduce economic efficiency
a. True
b. False
Indicate whether the statement is true or false
False
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The right of people to receive the value of their output as determined by the market _____
a. leads to people pursuing their own selfish ends, with little regard for others b. leads individuals to produce only goods that will appeal to the masses c. provides strong incentives to produce goods that will make themselves happy d. provides incentive to produce goods that others find valuable
Which of the following statements is true concerning the trend in hospital care between in-patient and out-patient services since the mid-1980s?
a. Both have been declining. b. Out-patient services have been static while in-patient services have been declining. c. Out-patient services have increased substantially because admissions are down. d. Both have been growing. e. There has been no noticeable trend in either in-patient or outpatient services.
Which of the following is not true about taste for work?
a. Everyone ends up in her or his most preferred job b. The transaction costs of job information and of changing jobs may prevent some desirable matchups c. Workers seek jobs in a way that tends to minimize the disutility of work d. Economists argue that your preferences are stable and you supply more labor to jobs you like e. Economists do not try to explain how work preferences develop
Which of the following is not one of the revenues of a typical high school athletic program?
a. local and city school taxes b. state taxes c. donations d. booster clubs e. none of these