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24 Cards in this Set
- Front
- Back
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a. privately
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but paid for by taxpayers and provided to consumers free of charge.
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b. by government enterprises
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and the cost of production is covered by taxes.
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c. privately
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and consumers purchase it with their own money.
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d. by government enterprises
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and consumers purchase it with their own money.
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2. In 2002
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the American Association of Retired Persons (AARP) spent $70 million on lobbying-related expenses in an attempt to get policies enacted that would benefit retirees. In economics
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d. redistribution searching.
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a. If the National Football League (NFL) allowed college freshmen and sophomores to be drafted and play in the NFL
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the most talented football players would drop out of school to play professional football.
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b. If the demand for computer programmers in the private sector was to rise
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salaries for computer science professors would likely rise as well.
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d. All of the above are true.
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1.
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The incentive of producers to control costs and the incentive of consumers to economize on their purchases will be weakest when the good is produced
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a.
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b.
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c.
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d.
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2.
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In 2002, the American Association of Retired Persons (AARP) spent $70 million on lobbying-related expenses in an attempt to get policies enacted that would benefit retirees. In economics, the term used to describe such activity is
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a.
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b.
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c.
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d.
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3.
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Which of the following is implied by the economic concept of opportunity cost?
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a.
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b.
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c.
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d.
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