Refer to the information provided in Figure 20.2 below to answer the question(s) that follow.
Figure 20.2Refer to Figure 20.2. The United States has an absolute advantage in producing
A. neither cars nor trucks.
B. cars.
C. both cars and trucks.
D. trucks.
Answer: B
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Citizens have a strong incentive to monitor local government because _____
a. as citizens it is their duty to do so b. the level of government services directly affects their utility because they consume them every day c. it is easy to observe the level and quality of nearby governments d. the cost and quality of local government services are reflected in housing prices
An example of price floor is
a. Minimum wages b. Rent controls in New York c. Both a and b d. None of the above
Which of the following is not a function of money?
a. Insurance against unexpected inflation. b. Legal tender. c. Insurance against expected inflation. d. Unvarying unit of value. e. None of the above is a function of money.
The Patient Protection and Affordable Care Act (PPACA) attempts to provide health-insurance coverage to low-income people through the following, except:
A. Establishing a new government insurance system specifically for the poor B. Requiring large employers to cover all their employees including the poor C. Expanding the Medicaid system to cover those whose incomes are less than 133% of the poverty level D. Providing subsidies to purchase health insurance to those who must buy insurance coverage on their own