A per unit subsidy increases both consumer and producer surplus, but results in a deadweight loss
Indicate whether the statement is true or false
True . The government expenditure more than offset the gains to consumer and producer surplus resulting in a deadweight loss.
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The results of a survey conducted by Dan Ariely and Michael Norton found that Americans
A) have a preference for much greater equality in wealth distribution than currently exists. B) have a preference for much less equality in wealth distribution than currently exists. C) have a preference for roughly the amount equality in wealth distribution that currently exists. D) show absolutely no preference for the amount of equality in wealth distribution in the nation.
In order to discover anything about causal relationships in economics we must first have
A) all the relevant data. B) quantified data or statistics. C) scientific evidence. D) some kind of theory of how things fit together. E) the courage and civility to eliminate all biases and preconceptions from our thinking.