Citizens have a strong incentive to monitor local government because _____
a. as citizens it is their duty to do so
b. the level of government services directly affects their utility because they consume them every day
c. it is easy to observe the level and quality of nearby governments
d. the cost and quality of local government services are reflected in housing prices
d
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A tax
A) places a wedge between the price paid by the buyers and the price received by the sellers. B) reduces consumer surplus and producer surplus. C) decreases government spending. D) Both answers A and B are correct. E) None of the above answers is correct.
Investment banks do NOT engage in which of the following?
A) proprietary trading B) securitization C) lending to households D) underwriting
Refer to the data provided in Table 17.3 below to answer the following question(s). The table shows the relationship between income and utility for Terri.Table 17.3 IncomeTotal Utility $00$20,00010$40,00025$60,00045$80,00075Refer to Table 17.3. Suppose Terri has a 25% chance of becoming disabled in any given year. If she does become disabled, she will earn $0. If Terri does not become disabled, she will earn her usual salary of $80,000. Terri has the opportunity to purchase disability insurance which will pay her her full salary in the event she becomes disabled. How much would such an insurance policy be worth to Terri?
A. $0 B. less than $20,000 but more than $0 C. $20,000 or more D. indeterminate from the given information
The cookie company in the mall hires workers to produce cookies. The workers are paid $75 per day, and the cost of renting the space in the mall is $250 per day. If two workers are hired, the variable costs are
a. $75 b. $100 c. $150 d. $200