If the taste for a good decreases, the
A. demand curve will shift to the right.
B. supply curve will shift to the left.
C. supply curve will shift to the right.
D. demand curve will shift to the left.
Answer: D
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The largest component of federal government spending is for
A) Medicare and Medicaid. B) interest on the national debt. C) prisons. D) national defense. E) education.
Why do people refuse to pay for public goods?
What will be an ideal response?
Unemployment insurance is:
A. offered by companies as a way to affect the level of frictional unemployment. B. offered by the government as a way to affect the level of seasonal unemployment. C. money that is paid by the government to people who are unemployed. D. All of these are true.
An increase in the demand for a good that is produced by many firms will
A. increase all of their respective marginal cost curves. B. increase all of their respective marginal revenue curves. C. decrease all of their respective marginal revenue curves. D. decrease all of their respective marginal cost curves.