Even though mass transit systems such as buses are available in most cities in the United States, many residents decide to drive to work in their own vehicles because
A) the opportunity cost of riding a bus is too high for them.
B) there is no opportunity cost of them to drive.
C) they are not aware of the opportunity cost of driving.
D) they do not behave according to the economic way of thinking.
A
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Evidence to support the Ricardo-Barro effect would show that
A) government budget deficits have no effect on the real interest rate or investment. B) higher government budget surpluses decrease investment. C) higher government budget deficits decrease investment. D) higher government budget deficits raise the real interest rate. E) government budget deficits increase household consumption.
When an economy is producing efficiently, it is
A. Producing a combination of goods and services beyond the production possibilities curve. B. Experiencing decreasing opportunity costs. C. Getting the maximum goods and services possible from the available resources. D. Producing equal amounts of all goods.