The theory of the long-run in perfect competition helps to provide a rationale for the belief in a limited role for government in society
a. True
b. False
Indicate whether the statement is true or false
True
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The scientific evidence on the causes and consequences of global warming
a. is clear and indisputable. b. has considerable uncertainty in its findings. c. indicates global warming should be stopped regardless of cost. d. is of no importance to economists.
Normative analysis is concerned with how things ______.
a. should be b. are c. will be d. can be
In public education, the value of the services provided is
A. greater than the value that parents and students place on the services. B. zero since they are a public good. C. less than the value that parents and students place on the services. D. equal to the value that parents and students place on the services.
Which of the following statements is NOT true about money?
A. Money can only be coins and paper. B. Money is a standard of deferred payment. C. Anything that serves as a medium of exchange, as a unit of accounting, as a store of value, and as a standard of deferred payment can be called money. D. Money is any medium that is universally accepted by sellers and creditors.