If a city council holds hearings on a proposed law that would require all restaurants to provide segregated tables for nonsmokers, the people most likely to be well represented at the hearings are
What will be an ideal response?
restaurant owners.
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An example of an excludable good or service is a:
A. movie in a theater. B. city park. C. rainbow. D. levee system.
Which of the following is true of fiscal spending at the federal, state, and local levels of the U.S. government?
a. In 2009, total government spending equalled around $1 billion. b. Investment expenditure in the U.S. exceeds the total spending at all levels of government. c. Government spending at federal, state, and local levels declined steadily from the 1960s until about 1980. d. Through the 1950s and 1960s, the U.S. government maintained a balanced budget. e. Federal government spending exceeds state and local government spending in the U.S.
Explicit price fixing:
A. is illegal in the U.S. and in the European Union. B. is illegal only in the United States. C. is illegal only if the firms engage in punishment strategies. D. has not occurred in recent years.
As long as existing firms ________ in an industry, some existing firms will exit the industry, causing the industry ________ curve to shift to the left.
A. break even; supply B. break even; demand C. incur economic losses; supply D. incur economic losses; demand