Which of the following policies would not help promote economic growth?
A) a law restricting elected officials from accepting expensive gifts and trips from private individuals
B) a law that subsidizes research in nanotechnology
C) a law that funds prenatal care for all expectant mothers
D) a law requiring that the funds in an individual retirement account be taxed
D
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Neither the demand nor the supply of gasoline is perfectly elastic or inelastic. When the government increases the federal tax on gasoline, the effect on buyers is that the price they pay
A) rises. B) falls. C) does not change. D) rises if the demand is inelastic and falls if the demand is elastic. E) rises if the supply is inelastic and falls if the supply is elastic.
The Atlantic City Expressway is a highway that runs from outside Philadelphia to Atlantic City, New Jersey. It is notoriously congested during the summer weekends when many people are driving to the beach about the same time. The marginal private cost for a driver of driving on the Expressway includes
I. the cost of gasoline. II. the cost of increasing congestion for everyone else. A) I only B) II only C) Both I and II D) Neither I nor II
Refer to Figure 13-10. to answer the following questions
a. What is the profit-maximizing output level? b. What is the profit-maximizing price? c. At the profit-maximizing output level, how much profit will be realized? d. Does this graph most likely represent the long run or the short run? Why?
National health insurance programs:
A. can increase use of health clinics versus traditional village doctors, who often have no medical training. B. are usually too costly for developing nations to implement. C. have solved the problem of providing high-quality care in places like India. D. are always less efficient than privatized programs.