In order to increase society's well-being, measles vaccinations might be
a. taxed to discourage production
b. subsidized to encourage production
c. taxed to encourage production
d. subsidized to discourage production
e. provided without government intervention
B
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An efficient price is a price set at:
A) marginal cost. B) opportunity cost. C) average fixed cost. D) average variable cost.
Which of the following would cause an increase in the exchange value of the U.S. dollar?
a. A decrease in the amount of foreign debt purchased by U.S. citizens b. An increase in U.S. exports c. Increased demand by foreigners to buy U.S. government securities d. all of the above
Which of the following is not true of a recession?
a. The economy is overheated. b. Cyclical unemployment is high. c. Unemployment is caused by insufficient spending. d. If the economy is in equilibrium, the aggregate expenditure line is too low to create an intersection at the full-employment level. e. If employers hired more workers to reduce unemployment, they would be unable to sell all the extra output those workers would produce.
Huge wage differentials paid for small differences in performance is an example of
a. the failure of the Lorenz curve to accurately reflect income distribution b. winner-take-all c. the failure of the Gini coefficient to accurately reflect income distribution d. a negative income tax system that disproportionately rewards the rich e. the different kinds of in-kind assistance that different people receive