Disclosure laws:
A. are an example of how government attempts to assert control over what we eat.
B. can result in information overload.
C. always help solve information asymmetry, but can cause other problems.
D. All of these statements are true.
Answer: B
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Assume that people experience a one-time 50 unit increase in their consumption (i.e. the intercept of the consumption function increases by 50). In this case
a. equilibrium income will rise by 50 units times the investment multiplier. b. equilibrium income will rise by 50 units. c. equilibrium income will rise by 50 units times the tax multiplier. d. equilibrium income will not change because this increase is temporary.
Some people have argued that the government should provide medical care to everyone. Under this system:
A. prices will not ration medical care so there will be no scarcity. B. the price of medical care will ration resources efficiently. C. prices will not ration medical care so some other rationing method will be used. D. the price of medical care will allocate resources efficiently.