A public good, such as a community's emergency warning sirens, typically
a. imposes benefits on only a few individuals but imposes costs on many people
b. imposes both benefits and costs on relatively few individuals
c. imposes benefits on many individuals but imposes the costs on relatively few people
d. imposes both benefits and costs on many individuals
e. only imposes costs on individuals when logrolling is prevalent in the government
D
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Points below a firm's total product curve are
A) both attainable and technologically efficient. B) neither attainable nor technologically efficient. C) attainable but not technologically efficient. D) technologically efficient but not attainable.
A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.91. The administration is considering a tuition increase to help balance the budget. The revenue-maximizing decision is to
A. decrease tuition, which should boost enrollment enough to balance the budget. B. decrease tuition, which would bring in more revenue. C. leave tuition as is—an increase would not help balance the budget. D. increase tuition, which would bring in more revenue.
A worldwide system of fixed exchange rates was organized and maintained under the International Monetary Fund
A) in the three decades before World War I. B) in the years between the world wars. C) from the end of World War II until the early 1970s. D) from the early 1960s to the late 1980s.
In the late 1970s and 1980s a movement toward deregulation took place because
A. the regulated industries became more competitive with rapidly advancing technology. B. regulation was leading to higher production costs, which caused widespread dissatisfaction. C. the transportation and telecommunication industries experienced the exit of many firms, which reduced the need for regulation. D. Congress decided the regulations that had been in place were not effective anyway.