In the 2008 credit crisis,
A. Home prices had no effect on the economy.
B. Home prices rose and caused a shortage in housing.
C. Home prices fell and caused home owners to default on loans.
D. None of the choices are correct.
Answer: C
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Suppose a cancer patient decides to forsake weekly chemotherapy treatments in order to spend more meaningful, loving time with her friends and family. In cases where patients refuse treatment,
A) there are indeed substitute for chemotherapy, such as time with family. B) the patient is behaving irrationally. C) the patient doesn't know what is in her long-run best interest. D) the patient fails to see that chemotherapy is a better substitute than time with the family.
Jane regularly sends funds to organizations seeking to save endangered animal species. This is an example of:
a. fairness. b. altruism. c. selfishness. d. self-interest.
Public saving is the difference between _____ and _____
Fill in the blank(s) with correct word
The supply curve for a monopolist:
a. is upward sloping b. is vertical c. is equal to the MC curve above AVC d. is equal to the MR curve above the AVC e. none of the above