A change in price will lead to a change in __________ and to a change in __________, while a change in government subsidies will lead to a change in __________ and a change in the number of buyers will lead to a change in __________
A) quantity demanded; quantity supplied; supply; demand
B) demand; quantity supplied; supply; quantity demanded
C) quantity demanded; supply; quantity supplied; demand
D) quantity supplied; quantity demanded; demand; supply
E) quantity demanded; demand; quantity supplied; supply
A
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Unlike the market process, in the political market it is possible for some individuals to receive very large benefits from the political process without any significant impact on their tax bills
Indicate whether the statement is true or false
If a commercial bank has assets valued at $200 million and a net worth of $20 million, what is the value of the bank's liabilities?
a. There is not enough information to determine. b. $20 million c. $220 million d. $180 million e. $200 million
Economists refer to externalities as an example of market failure when:
a. markets do not consider social costs as part of overall costs. b. additional external costs are so high that the firm must shut down. c. private costs are the same as costs to society as a whole. d. citizens bring lawsuits to stop production that pollutes.
If marginal cost of an additional unit of output is greater than average cost, then average cost will rise
a. True b. False Indicate whether the statement is true or false