In The Economy Tomorrow analysis in the text stated that thousands of people were waiting for a kidney transplant. Which of the following statements is true?
A. There is not an organ shortage.
B. Allowing the sale of kidneys at a price greater than zero would likely increase the number of available kidneys.
C. A price ceiling of zero is effectively a prohibition against donating organs.
D. Allowing the sale of kidneys at a price greater than zero would decrease the number of available kidneys.
Answer: B
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A) single central bank B) unified fiscal system C) national trade agreement D) federally funded emergency account
The American Economic Association limiting its presidential vote to only one candidate is an example of agenda control
a. True b. False
The twin responsibilities of the Federal Reserve are:
A. to print money and ensure price stability. B. to ensure price stability and regulate international trade. C. to maintain full employment and balance the federal budget. D. to ensure price stability and maintain full employment.
In the short run, the additional output that results from hiring an additional unit of a variable input is the
A. average product. B. marginal cost. C. marginal product. D. average variable cost.