Urban renewal destroyed potential housing for the homeless
a. True b. False
a
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Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. At an output of 10,000 units
A) the marginal benefit of iced tea is greater than the marginal cost; therefore, output is inefficiently high. B) the marginal benefit of iced tea is greater than the marginal cost; therefore, output is inefficiently low. C) the marginal cost of iced tea is greater than the marginal benefit; therefore, output is inefficiently low. D) producers should lower the price to $1 in order to sell the quantity demanded of 10,000.
Which is the best example of specialization?
A) a high school math teacher who teaches only calculus B) a firm that produces both luggage and cooking oil C) a person whose job includes accounting, personnel, and maintenance tasks D) a high school math teacher who teaches algebra and calculus
________is the problem of separating good from bad drivers
a. Moral hazard b. Adverse selection c. Decision making d. None of the above
In the classical model, the demand for loanable funds comes from
a. consumption expenditures and the government deficit, if any b. net taxes and government expenditures c. government purchases d. investment spending and the government deficit, if any e. consumption expenditures, investment spending and government purchases