An example of an externality associated with drugs is a drug
A. dealer killing his supplier for lack of delivery.
B. user ruining a spouse's life.
C. dealer killing his customer for lack of payment.
D. user ruining the drug user's life.
Answer: B
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Total health care spending in the United States was over $2.6 trillion in 2013
Indicate whether the statement is true or false
Refer to Figure 7-1. Under autarky, the equilibrium price is
A) $54. B) $0. C) $24. D) $30.
For most consumers, the process of gathering information can be considered
a. irrational b. unproductive c. a vocation d. nonmarket work e. costless
Refer to Figure 18.2. Which of the following is not consistent with a shift from AS2 to AS1?
A. A major natural disaster such as an earthquake. B. A decrease in business taxes. C. Stagflation. D. An inward shift of the production possibilities curve.