Refer to Scenario 12.2. This scenario describes a volunteer's dilemma
Explain what would likely happen if the pool of potential kidney donors increased from 2 friends (Jerome and Eliza) to 4 friends in terms of the likelihood of any one person volunteering to donate a kidney and in terms of the likelihood that no one at all would donate a kidney.
As the pool of volunteers grows, each individual is less likely to to volunteer to donate a kidney, and the likelihood of no one at all volunteering to donate a kidney tends to increase.
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The three most important financial centers in the world today are New York, London, and Tokyo
Indicate whether the statement is true or false
Economic theory suggests that the standard of living of American workers would rise if:
a. the minimum wage were doubled. b. the knowledge and skills of workers improved. c. older workers were forced to retire earlier, opening up jobs for younger workers. d. people bought only American products.
Horizontal and vertical equity are the two primary measures of efficiency of a tax system
a. True b. False Indicate whether the statement is true or false
The foreign purchases effect suggests that a decrease in the U.S. price level relative to other countries will:
A. shift the aggregate demand curve leftward. B. shift the aggregate supply curve leftward. C. decrease U.S. exports and increase U.S. imports. D. increase U.S. exports and decrease U.S. imports.