Freely functioning markets in the real world always result in efficient allocations of resources.
Answer the following statement true (T) or false (F)
False
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Briefly explain what is included in the following provisions which are a part of the Patient Protection and Affordable Care Act (ACA):
-the individual mandate -the employer mandate -regulation of private insurers -state health exchanges
For a given market demand curve, if the market clearing price decreases, then the amount of consumer surplus will
A) decrease. B) increase. C) become negative. D) none of the above due to insufficient information.
The development of a new technology can provide a way for an economy to sidestep the diminishing marginal returns of capital deepening
a. True b. False Indicate whether the statement is true or false
To reduce our dependence on foreign oil, policy makers must realize that the cross-price elasticity sign for gasoline and fossil fuel-burning cars is negative.
Answer the following statement true (T) or false (F)