The saying "the lower the price, the better" may not always be correct for an economy's public interest because
a. people should have to pay for what they want.
b. people will overuse something they perceive as being cheaper than the utility they receive for it.
c. the government can no longer afford to provide all the goods and services it provides because it is slowly going broke.
d. cheaper prices will make people buy less of other things.
b
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Which of the following does NOT affect the position of the DD curve?
A) monetary policy B) government spending C) taxes D) export demand E) price levels
The median voter model explanation for the landside victory of Ronald Reagan over Walter Mondale is that _____
a. Reagan was far closer to the median voter than Mondale b. Reagan was far more charismatic than Mondale c. Reagan was able to use the power of incumbency to overwhelm Mondale d. Reagan was able to be more extreme than Mondale and still win
When a good is taxed, the tax revenue collected by the government equals the decrease in the welfare of buyers and sellers caused by the tax
a. True b. False Indicate whether the statement is true or false
Who of the following is counted as "unemployed" by the Bureau of Labor Statistics?
a. someone working without pay for a family member's business b. someone who is absent from their job due to illness c. someone on temporary layoff d. All of the above are correct.