Four stores have a problem with theft and security is a public good. Let S stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 200 - 2S. Patrols cost $20 per hour. Which of the following gives the marginal social benefit function?
A. MSB = 50 - 0.5S
B. MSB = 800 - 8S
C. MSB = 800 - 2S
D. MSB = 196 - 2S
B. MSB = 800 - 8S
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Which of the following groups of people is eligible for unemployment insurance?
a. people who were laid off in a recession b. people who have not had a job before c. people who were fired d. people who quit their job
Professor Tabarrok points out that it can take a long time to
A. combat the shocks that cause structural unemployment with positive shocks. B. identify the causes of the shocks that cause structural unemployment. C. adjust to shocks that cause structural unemployment. D. reverse the shocks that cause structural unemployment.
If the CPI equaled 1.43 in 2008 and 1.56 in 2009, then between 2008 and 2009 there was:
A. an expansion B. a recession C. inflation. D. deflation
The imposition of an excise tax on a service will _____ the supply of that service.
Fill in the blank(s) with the appropriate word(s).