Suppose that in an effort to help single parents, the government decides to pay part of the cost of childcare. This measure would increase ________ in the market for childcare.
A. producer surplus
B. total economic surplus
C. efficiency
D. consumer surplus
Answer: D
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Which of the following will tend to make oil extraction more economical?
A) rising oil prices B) additional oil exploration C) conservation measures D) development of oil substitutes
A person who has not worked in six months and has given up looking for work is officially classified as
A. employed. B. unemployed. C. discouraged. D. in the labor force.
Points on the production possibilities frontier have the property that they
A) are inherently unattainable. B) show the maximum amount of leisure that can be consumed for given amounts of goods consumed. C) show the maximum amount of goods that can be consumed for given amounts of government spending. D) show the maximum amount of leisure that can be consumed for given amounts of hours worked.
The American Economic Association limiting its presidential vote to only one candidate is an example of agenda control
a. True b. False