If a candidate for political office was espousing a "pro-growth" agenda and was focused on universal and free college education, this would have its greatest impact on growth through which source?
A. An increase in economic freedom
B. An increase in the number of workers
C. An increase in the productivity of workers
D. None of these
Answer: C
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If a natural monopoly has an average cost pricing rule imposed, the rule will
A) maximize total surplus in the regulated industry. B) generate an economic loss for the regulated firm. C) reduce the consumer surplus and generate a deadweight loss when compared to a marginal cost pricing rule. D) set price below marginal cost.
Explain why distributing $500 worth of food stamps to someone is not the same thing economically speaking as giving them $500 in cash? Why might the cash option make the poor better off than food stamps?
What will be an ideal response?
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50The variance in the returns of project A is:
A. 0. B. 225. C. 900. D. 1,600.
A price ceiling is non-binding when:
A. it is set above the equilibrium price. B. it reduces the output in a market. C. it increases the output in a market. D. it is set below the equilibrium price.