Even economists who advocate small government agree that
a. national defense is a public good and that the government should provide it.
b. national defense is a common resource and that the government should provide it.
c. national defense is a public good, but many of them believe that it should be provided by private firms rather than by the government.
d. national defense is a common resource, but many of them believe that it should be provided by private firms rather than by the government.
a
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Unemployment due to the location or skill requirements of job vacancies not matching the location or skills of the unemployed is called ________ unemployment
A) turnover B) mismatch C) cyclical D) natural
Hospitals can refuse to treat non-emergency cases for Medicaid recipients.
Answer the following statement true (T) or false (F)
Prior to the financial crisis and recession which began in 2007, credit for mortgages was ________, creating a ________
A) unavailable to low-income borrowers; large demand for rental properties B) virtually unavailable; housing bubble C) only available to borrowers with high credit scores; shortage of affordable housing D) easily obtained; housing boom
Refer to Table 11-1. Diminishing marginal returns sets in when the ________ worker is hired
A) 2nd B) 3rd C) 4th D) None of the above; the production function displays increasing marginal returns.