Medical doctors earn higher incomes than PhDs in economics. This is partly because:
A. medical doctors are more likely to face malpractice lawsuits.
B. the costs of receiving necessary medical education are higher.
C. a relatively small number of students are admitted to medical schools.
D. All of these
Answer: D
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Suppose a scientific breakthrough made free solar power available in unlimited quantities in the United States. The effect of this invention would be to move the
A) United States beyond its production possibilities frontier. B) United States inside its production possibilities frontier. C) U.S. production possibilities frontier outward. D) U.S. production possibilities frontier inward.
If an increase in crime causes households to spend money on police and security systems, GDP will rise
Indicate whether the statement is true or false