If domestic production of a product causes pollution that imposes an external cost on the country, then
A. exports of the product should be subsidized.
B. exports of the product are less than they would be otherwise.
C. exports of the product can make the country worse off.
D. exports of the product offset the external costs.
Answer: C
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The only goods you consume are pizza and soda. Both are normal goods. You consider pizza and soda to be substitutes. Which of the following will lead you to eat more pizza?
A) The price of a pizza falls. B) The price of a soda falls. C) The price of a soda rises. D) Both answers A and C are correct.
Which statement is false?
A. The unemployment rate for blacks has consistently been double that of whites. B. The largest source of income is property income. C. Women have traditionally earned 60% of what men have earned. D. None of these statements are false.
The CARD Act, which tells credit card holders how long it will take to pay off their debt if they only make minimum payments, and how much they need to pay in order to pay off the debt in three years, is an example of:
A. disclosing information in more usable ways. B. choice architecture that nudges people toward better decisions. C. how the presentation of information can affect people's choices. D. All of these statements are true.
Real expenditures on Medicare and Medicaid
a. rose during the 1970s and 1980s, but they have been declining since 1990. b. fell during the 1970s and 1980s, but they have been increasing since 1990. c. increased at about the same rate as real GDP during the last three decades. d. have approximately doubled during each of the last three decades.