When the city of Fresno holds a referendum to determine if taxes will be raised to pay for road repairs, the city is using a ________ allocation method
A) majority rule
B) market price
C) contest
D) personal characteristics
E) command
A
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When the government imposes taxes on buyers and sellers of a good, society loses some of the benefits of market efficiency
a. True b. False Indicate whether the statement is true or false
Exhibit 13-1 Consumer Price Index Year ConsumerPrice Index 1 100 2 110 3 115 4 120 5 125 As shown in Exhibit 13-1, the rate of inflation for Year 5 is:
A. 4.2 percent B. 5 percent. C. 20 percent. D. 25 percent.
Which of the following is an example of an external benefit?
A. A company opens a slaughterhouse at the end of your street. B. Firms are able to reduce their costs of production by using a more efficient technology. C. The city spends $500,000 to upgrade the local jail. D. More people start to install solar panels on their roofs, and as a result, electricity use goes down as does the pollution created by the generation of electricity.
A carbon tax placed on coal would:
A. raise the costs of goods produced using coal, raising their price, and thus decreasing the quantity demanded of these goods. B. not affect emissions of greenhouse gases. C. shift the demand curve for coal to the right. D. make coal a more attractive form of energy.