Refer to the graph shown of average costs for a firm. This firm exhibits:
A. X-inefficiency.
B. economies of scale.
C. diseconomies of scale.
D. profits.
Answer: B
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If a country lacks ________, economic growth ________
A) a democratic form of government; cannot occur B) a proper incentive system; cannot occur C) pure capitalism; will be slower compared to other countries D) a proper incentive system; will occur at a pace suggested by the new growth theory E) economic freedom; will increase at a faster pace
Currently, about ________ of all health care spending is paid by individuals
A) 60 percent. B) 35 percent. C) 15 percent. D) 5 percent.
If government purchases exceed tax revenue, there is a budget deficit
a. True b. False Indicate whether the statement is true or false
The majority of economists believe that the social benefit of mandating measles vaccines for all Americans (except those with compelling medical reasons) would exceed the social cost
a. True b. False Indicate whether the statement is true or false