Stability and equity are two principles associated with
a. private goods as opposed to public goods
b. public goods, such as public assistance and defense
c. merit goods, such as public assistance and agriculture
d. transfer payment programs, such as education and natural resources
e. transfer payment programs, such as public assistance and agriculture
E
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When the United States cannot produce all of the goods and services desired by its citizens, the economy is
A) in a deep freeze. B) inefficient. C) in a shortage state. D) facing scarcity.
All of the following are possible criticisms of social regulation EXCEPT
A) that the costs may outweigh the benefits. B) that social regulation may create anticompetitive effects. C) that the regulations have not resulted in safer working conditions. D) that the regulations lead to higher production costs.
Why are people willing to pay more for a diamond than for a bottle of water?
What will be an ideal response?
The paradox of thrift suggests that when households intend to save more, they will ________ consumption, which will ultimately lead to ____________ aggregate saving.
a) decrease; lower b) decrease; higher c) increase; lower d) increase; higher