By implementing user fees, the government tries to shift
A. External costs to the producer.
B. External costs to users.
C. Private costs to society.
D. Social costs to the producer.
Answer: B
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According to Angus Madison, a leading authority in the area, world per capita GDP
a. increased by about 50 percent during the 800 years following year 1000 . but it increased by nearly tenfold during the past 200 years. b. increased by nearly tenfold during the 800 years between 1000 and 1813, but it increased by only 50 percent during the past 200 years. c. has grown steadily during the past 1000 years. d. Grew at an annual rate of more than 2 percent during 1000-1813, but the annual growth rate has declined as the population increased during the past 200 years.
The drafters of the US Constitution, such as Madison, were particularly worried about:
a. the possibility of truly democratic elections b. violations of the Bill of Rights c. the Fifth Amendment d. not enough people voting e. protecting the interests of a minority from the majority
If a country had a trade deficit of $10 billion and then its exports rose by $20 billion and its imports rose by $10 billion, its net exports would now be
a. $0 b. $10 billion. c. -$10 billion. d. -$20 billion.
Compared to a barter economy, using money increases efficiency by reducing:
A. transaction costs. B. the need to exchange goods. C. the need to specialize. D. inflation.