Aggregate supply can usually be increased as workers
A. work smarter, better and more efficiently when provided with better, education, tools, and technology.
B. work smarter, better, and more efficiently.
C. work harder.
D. are provided with better education, tools, and technology.
Answer: A
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80% of the total number of people in Genovia with health insurance are above 40 years of age. Which of the following economic concepts helps in explaining this fact?
A) The concept of negative externalities B) The concept of adverse selection C) The concept of free riding D) The concept of positive externalities
When a positive externality is present in a market, total surplus is:
A. higher when buyers receive a Pigouvian subsidy for the externality. B. lower when buyers receive a Pigouvian subsidy for the externality. C. higher when buyers only consider private benefits. D. Any of these statements could be true.