Which of the following is NOT a problem caused by black markets?
A) Legally banned goods are traded in black markets.
B) Black markets pose a threat to legitimate businesses.
C) Black markets lead to an inefficient use of society's resources.
D) Black markets lead to a fall in the demand for goods.
D
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Which of the following is true of protectionism?
A) It lowers prices for domestic consumers and increases social surplus. B) It increases prices for domestic consumers and also increases social surplus. C) It increases prices for domestic consumers and lowers social surplus. D) It lowers prices for domestic consumers and also reduces social surplus.
Very recently, the debt-to-GDP ratio has been:
a. higher than usual. b. lower than usual. c. stabilized. d. volatile.
Cash distributions made by government to individuals when no good or service is received in exchange are known as __________.
A. Taxes B. Transfer payments C. Poverty payments
Which of the following is true?
A. At the same price, demand is more elastic on the steeper demand curve. B. On a linear demand curve, the higher the price, the less elastic is demand. C. On a linear demand curve, elasticity is not constant. D. None are true.