Since 1942, the number of school districts in the United States has declined by almost _____ districts
a. 25,000
b. 50,000
c. 75,000
d. 100,000
d
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According to the ________, as long as property rights are clearly defined, two agents can always bargain to reach the efficient outcome
A) Coase theorem B) Ricardian theory on rent C) revenue-equivalence theorem D) envelope theorem
Which of the following offers the best example of an external cost?
a. The opportunity cost of money that an entrepreneur has invested in her business b. The payments to owners of labor resources and coal inputs used by a coal-burning electric generating facility c. The price paid by households for electricity service, including both the electricity itself and the cost of transporting the electricity through power lines d. The harms to private property, open-access resources, and human health caused by pollution byproducts of electricity production
If the price of oil rises, producers of oil will
A. increase the quantity of oil supplied. B. supply less oil. C. cut the price. D. leave the amount of oil supplied unchanged.
Public goods are desired because
A) people want and value them but the private sector will not make them available. B) we want the government to spend our tax dollars. C) they came in small units. D) they make supply equal to demand for private goods.