________ is caused by the fact that taxes distort economic decisions.
A. Market failure
B. Excess burden
C. Neutrality
D. Tax shifting
Answer: B
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A production possibilities curve shows the:
A. dollar costs of producing two different goods. B. amounts of labor and capital needed to produce one good. C. various combinations of goods that can be produced. D. prices of different goods that are produced in an economy.
One way that insurance companies can reduce the moral hazard problem is to:
A. make insurance customers pay a deductible before the company pays on a claim. B. engage in genetic testing to determine who is more likely to be high risk. C. eliminate copayments on insurance claims. D. insure only customers with good morals.
One method firms can use to solve the duopolists' dilemma is to engage in:
A. predatory pricing. B. tying contracting. C. marginal cost pricing. D. low-price guarantees.
Credit cards are included in
A) the M1 money supply. B) the M2 money supply. C) all of the above. D) none of the above.