If a gas station selling gasoline is asked to incorporate the pollution costs, its supply curve will shift to the right
a. True
b. False
Indicate whether the statement is true or false
False
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The lesson learned from the discussion about kibbutzim in your textbook is that organizations which are controlled by people who place a low value on acquiring material things
a. do not maximize profit b. only produce enough to survive c. cannot compete in a capitalist society d. have religious convictions against profit e. still maximize profit
One question that arises when determining for whom goods and services should be produced is:
A) Who gets how much of the economic pie? B) How can we import more goods for domestic consumption? C) How can we reduce exports so as to leave more goods for domestic consumption? D) Should society outlaw child labor?
One of the reasons government debt is different from individual debt is:
A. the government debt is unrelated to income. B. all government debt is owed to other government agencies. C. government never really needs to pay back its debt. D. government does not pay interest on its debt.
An example of a situation in which the social costs are greater than the private costs would be
A. a physician who cannot examine patients with a stethoscope in an examination room adjacent to an airport. B. a new restaurant takes business away from an established restaurant. C. hand-held calculators putting slide rule manufacturers out of business. D. when a member of a rock band's ability to hear deteriorates from performing in so many loud concerts.