The government sector sells resource services to households and buys goods and services from firms
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following would likely be the most effective possible solution when a scarce resource is subject to the tragedy of the commons?
A) offer subsidies to the users of the commons B) restrict access to the commons through community norms and laws C) persuade people to use less of the scarce resource through an advertising campaign D) force people to move a great distance away from the commons
"I'm telling you, instead of charging $50 each, they could give the opera tickets away for free, and I myself still wouldn't go—ever!" What can we say about this person's demand for opera tickets?
A) His price elasticity is infinite, which means his demand curve is upward sloping. B) His price elasticity is exactly equal to 1, which means his demand curve is unit elastic. C) His price elasticity is exactly equal to 50, which means his demand curve is very elastic. D) He doesn't have a demand for opera tickets.
The magnitude of the slope of an indifference curve
A) is equal to the marginal rate of substitution. B) always equals the relative price of the product measured along the horizontal axis. C) increases as income increases. D) decreases when income increases.
If the Federal Reserve System lowers the legal reserve requirement, it forces banks to hold repaid loans as required reserves instead of lending them again, thus shrinking the money supply
Indicate whether the statement is true or false