Governments usually provide national defense from tax funds because
What will be an ideal response?
it is hard to supply national defense exclusively to those who volunteer to pay for it.
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If a monopolist were allowed (and able) to first degree price discrimination, there would be no efficiency/equity tradeoff so long as the government can tax the profits of the firm and redistribute the tax revenues in a lump sum way.
Answer the following statement true (T) or false (F)
Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year's grape harvest. What happens in the California wine market as a result of this announcement?
A) The demand curve for California wine shifts to the right in anticipation of higher prices in the future. B) The demand curve for California wine shifts to the left in anticipation of higher prices in the future. C) The supply curve for California wine shifts to the left in anticipation of lower quantities in the future. D) The supply curve for California wine shifts to the right in anticipation of higher prices in the future.
In October 2012, the largest liability of the Fed was
A) currency in circulation. B) reserves. C) discount loans to banks. D) vault cash.
Refer to the above figure. If the marginal cost curve for pollution abatement shifts to the right, everything considered, the
A) degree of air quality or cleanliness will also decrease. B) the degree of air quality or cleanliness will stay unchanged. C) the degree of air quality will improve. D) the marginal cost of pollution abatement has nothing to do with air quality.