Paternalism leads people to:
A. use their abilities as well as possible and purchase only what they need regardless of price.
B. buy only what they need instead of what they want because doing otherwise is bad environmental stewardship.
C. make decisions that are good for themselves that they might not have made on their own.
D. consider what their parents would do when making decisions even though they themselves might not make those same decisions.
Answer: C
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Refer to Table 4-4. The table above lists the highest prices three consumers, Curly, Moe, and Larry, are willing to pay for a bottle of champagne. If the price of one of the bottles is $24 dollars
A) Curly will receive $26 of consumer surplus from buying one bottle. B) Larry will receive $15 of consumer surplus since he will buy no bottles. C) Curly will buy two bottles, Moe will buy one bottle and Larry will buy no bottles. D) Curly and Moe receive a total of $80 of consumer surplus from buying one bottle each. Larry will buy no bottles.
Collusion is common in oligopoly and monopolistically competitive industries
Indicate whether the statement is true or false
If government spending does not change, an increase in the government deficit leads to
A) an increase in current consumption. B) a decrease in current consumption. C) no change in current consumption. D) it depends on the marginal propensity to consume.
Sue Hawkins earns $100,000. How much Social Security tax does she pay?
What will be an ideal response?