Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade
a. True
b. False
Indicate whether the statement is true or false
True
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The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal private benefit is
A) zero. B) $14,000. C) $19,000. D) $16,000.
Which of the following is a rationale for development planning?
(a) government failure. (b) market failure. (c) failure of consumers to understand their preferences. (d) all of the above are rationales for development planning. (e) none of the above are rationales for development planning.
Kevin purchasing concert tickets with his debit card is an example of the ________ function of money
A) medium of exchange B) unit of account C) store of value D) specialization
Extreme global poverty is defined as ________
A) income of less than one dollar a day B) foreign debt in excess of 100% of GDP C) one percent of U.S. income D) one-fourth of U.S. income