The median voter theorem is more likely to hold true in elections with a large number of candidates
Indicate whether the statement is true or false
FALSE
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If you save more because Social Security motivates you to provide a greater level of inheritance for your children, then this is referred to by economists as the
A. slovenly effect. B. bequest effect. C. asset substitution effect. D. induced retirement effect.
Governments sometime create an excess supply of a product by setting a minimum price that is greater than the equilibrium price, resulting in a permanent excess supply of the product. This is known as a price ceiling
Indicate whether the statement is true or false
Violations of the Sherman Antitrust Act have sometimes been punished by breaking up the offending firm into a number of smaller firms
a. True b. False Indicate whether the statement is true or false
Externalities are benefits or damages conferred upon people who are directly involved in an exchange of a good or service
a. True b. False Indicate whether the statement is true or false