Which of the following statements is always true?
A) Investment equals depreciation.
B) Investment equals the capital stock minus depreciation.
C) The capital stock is equal to investment minus depreciation.
D) Any change in the capital stock is equal to investment minus depreciation.
E) The increase in investment is equal to the capital stock minus depreciation.
D
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According to the benefits-received principle, those who receive the benefits from a government program should pay the taxes that support the program
Indicate whether the statement is true or false
Suppose the U.S. government encouraged new medical school graduates to take over existing practices from doctors wishing to retire by paying both the new and retiring doctors $100,000. These doctors would be exemplifying the economic idea that
A) people are rational. B) people respond to economic incentives. C) optimal decisions are made at the margin. D) equity is more important than efficiency.