The expression "There's no such thing as a free lunch" means
a. if one person gains, someone else must lose.
b. each person must pay for exactly what he or she receives.
c. when scarce resources are used to produce one good they are unavailable to produce others.
d. you cannot have a free lunch at the expense of someone else.
c. when scarce resources are used to produce one good they are unavailable to produce others.
You might also like to view...
If voters are rationally ignorant, then the interest of the bureaucracy to maximize its budget will result in an oversupply of a public good
Indicate whether the statement is true or false
The single source of concern about the national debt is
a. gimmicks like the National Debt Clock. b. the interest payments that must be made on the debt every year. c. the transfer payments that must be made every year. d. the large trade deficits that we face with other countries. e. none of the above.