"Crowding in" refers to federal government deficits:
A. used for public infrastructure that will offset any decline in business investment.
B. which reduce private business and consumption spending.
C. which reduce future rates of economic growth.
D. when the economy is at full employment.
Answer: A
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If the marginal benefit of consuming another unit of a good is positive, then to reach the allocatively efficient level of output more of the good should be produced and consumed
A) no matter what. B) as long as the consumer can afford to pay for it. C) if the total benefit of the good is greater than its total cost. D) if the marginal benefit of the good is greater than its marginal cost.
When two goods are perfect substitutes, their indifference curves are straight lines
Indicate whether the statement is true or false