Due to adverse selection, very few lemons will be sold in the market for used cars
Indicate whether the statement is true or false
FALSE
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The U.S. current account equals
A) U.S. exports - U.S. imports - net income from foreign investments + net transfers from abroad. B) U.S. exports - U.S. imports + net income from foreign investments + net transfers from abroad. C) U.S. exports + U.S. imports + net income from foreign investments + net transfers from abroad. D) U.S. imports - U.S. exports + net income from foreign investments + net transfers from abroad.
If an individual labor supply curve bends backward at some high wage, so does the market labor supply curve
a. True b. False Indicate whether the statement is true or false
The gasoline tax is based on the principle of
a. cost of service. b. benefit received. c. ability to pay. d. equality of sacrifice.
Politicians might hesitate to increase income and in-kind transfers to the poor because this could cause
A. Excessive demand for goods and services. B. Private sector spending to overpower public sector spending. C. An increase in unemployment. D. A decrease in the budget deficit.