Explicit costs are nonmonetary costs
Indicate whether the statement is true or false
FALSE
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If bargaining is costless, the assignment of property rights for an externality
a. has no impact on the possibility of an efficient outcome and no distributional impact. b. has no impact on the possibility of an efficient outcome but does have a distributional impact. c. does have an impact on the possibility of an efficient outcome but has no distributional impact. d. does have an impact on the possibility of an efficient outcome and does have a distributional impact.
Why does the government index income tax rates to inflation?
a. To avoid people paying less in taxes when there is inflation b. To avoid people moving to a higher tax bracket when their purchasing power has increased c. To avoid people paying less in taxes when their real purchasing power has not increased d. To avoid people paying more in taxes when their real purchasing power has not increased
Elsa is annoyed that it costs her 25 cents to park her car at the city park, which is free to enter. Her friend says _______________, which demonstrates how the government provides public goods.
a. “The city council is lining their own pockets with those quarters.” b. “Those parking fees help keep the park maintained and open for everybody.” c. “The park is free because it doesn’t need any maintenance, but the parking spaces do.” d. “So don’t pay it. What difference does it make?”
In the event that China rises, and the U.S. overcomes its setbacks and does not decline further, the situation may be similar to that seen in the Cold War, one of
a. bipolarity. b. unipolarity. c. anarchy. d. multipolarity