The indifference curves in the figure above (I1, I2, and I3 ) reflect Peter's consumption preferences. Peter prefers consuming ________ to consuming ________
A) 48 slices of pizza and 12 chocolate bars; 24 slices of pizza and 24 chocolate bars
B) 40 slices of pizza and 20 chocolate bars; 48 slices of pizza and 12 chocolate bars
C) 24 slices of pizza and 24 chocolate bars; 40 slices of pizza and 20 chocolate bars
D) 32 slices of pizza and 8 chocolate bars; 16 slices of pizza and 16 chocolate bars
B
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According the Coase Theorem, the private sector can achieve social efficiency if the government:
a. establishes and enforces property rights. b. imposes taxes to serve as proxies for external costs. c. set rigorous environmental standards. d. encourages competition with antitrust laws.
Which of the following would generate positive externalities?
a. flu vaccinations b. pesticides used to create greater yields per bushel c. cigarette smoking in elevators d. litter left at the beach e. an unkempt front yard
A federal deficit that raises interest rates will, everything else being equal,
a. lead to a dollar depreciation. b. decrease imports. c. reduce exports. d. reduce the balance of trade deficit.
The share of net public debt owed to foreign residents today is close to
A. 100 percent. B. 50 percent. C. 10 percent. D. 80 percent.