Which of the following is an example of a positive statement?
A) Since this good is bad for you, you should not consume it.
B) If this good is bad for you, you should not consume it.
C) If you consume this good, you will get sick.
D) None of the above.
C
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Requiring Medicare participants to pay a small fraction of the cost of their medical care
a. reduces the quantity of health care they demand to zero b. has no effect on the amount of health care they consume, but does generate revenue for the government c. reduces their utilization of health care without compromising their health d. actually increases the amount of consumer surplus they receive e. amounts to a significant burden for most of those participants
Barter requires
a. that the exchanged goods be portable b. that the exchanged goods be durable c. a double coincidence of wants d. that the exchange medium be divisible e. an effective middleman