The number of U.S. households with access to the Internet has grown is growing rapidly. Compared to 50 years ago, one would predict that when considering a major purchase, people today will gather:
A. more information because the Internet has lowered the cost of gathering information.
B. less information because the Internet has increased the benefit of gathering information.
C. less information because the Internet has lowered the cost of gathering information.
D. more information because the Internet has increased the cost of gathering information.
Answer: A
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A government subsidy
A) is a policy that can be used to help eliminate the deadweight loss from an external cost. B) can help achieve an efficient amount of output when the good has an external benefit. C) increases consumers' marginal benefit from the good. D) Both answers A and C are correct. E) Both answers B and C are correct.
The Keynesians argue that even if the interest rate does __________ in response to a decrease in investment, there is __________ guarantee that spending will increase very much
A) increase; no B) increase; a C) decrease; no D) decrease; a