A decrease in government regulation will shift
A. aggregate demand to the right.
B. aggregate supply to the left.
C. aggregate demand to the left.
D. aggregate supply to the right.
Answer: D
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John is a 55-year-old male smoker, about 50 pounds overweight, who has high blood sugar and drinks to excess a couple of times each month. Because of adverse selection in health insurance,
A) John is less likely to buy health insurance than the average person, because the average person's policy premiums will be based on his risk, not the average risk. B) John is more likely to buy health insurance than the average person, because his policy premiums will be based on the average risk, not his personal risk. C) when John gets health insurance, he will be less likely to take care of himself. D) when John gets health insurance, he will be more likely to take care of himself. E) if John doesn't have health insurance already, he will not be able to get it.
For which of the following goods is the marginal benefit of search likely to be greatest?
a. a pair of shoes b. an automobile c. a jar of honey d. a loaf of bread e. a pair of jeans
If either the production or consumption of a good generates an external benefit, then the:
A. social demand curve will lie to the right of the private demand curve. B. social marginal cost of the good will equal zero. C. social marginal cost curve will lie to the left of the private marginal cost curve. D. social demand curve will lie to the left of the private demand curve.
Suppose that the cross price elasticity of demand between goods A and B equals 1.25. Which of the following is TRUE?
A. Goods A and B are complements because the cross price elasticity is positive. B. Goods A and B are substitutes because the cross price elasticity is greater than one. C. Goods A and B are substitutes because the cross price elasticity is positive. D. Goods A and B are complements because the cross price elasticity is greater than one.