Health insurance features that tend to reduce moral hazard include

Economic inefficiency of a monopoly is indicated by

A) P = ATCmin. B) P > MR. C) P > MC. D) MR = MC.

Suppose that in a closed economy GDP is 11,000, consumption is 7,500, and taxes are 500 . What value of government purchases would make national savings equal to 2,000 and at that value would the government have a deficit or surplus?

a. 1,500, deficit b. 1,500, surplus c. 1,000, deficit d. 1,000, surplus