Suppose two individuals, Pooh and Piglet, desire protection (provided by Tigger) for their community, The Hundred Acre Wood, from heffalumps. Protection is a public good
The marginal cost of protection as well as Piglet's and Pooh's marginal benefits from protection are in the table above. What is the quantity of protection that achieves the maximum net benefit? A) 1 hour per day
B) 2 hours per day
C) 3 hours per day
D) 4 hours per day
C
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Refer to the scenario above. Suppose a country is currently at point C. Which of the following will happen if it experiences an improvement in technology?
A) It will move from point C towards point D. B) The curve will shift upward. C) It will move from point C toward point A. D) The curve will shift downward.
If U.S. residents chose to travel overseas less due to concerns about the safety of foreign travel, then in the open-economy macroeconomic model
a. the demand for dollars in the market for foreign-currency exchange shifts right. b. the demand for dollars in the market for foreign-currency exchange shifts left. c. the supply of dollars in the market for foreign-currency exchange shifts right. d. the supply of dollars in the market for foreign-currency exchange shifts left.
Subway is a fast-food restaurant chain. Which of the following would be a long-run decision for Subway?
A. hire one more worker in a restaurant location B. supply more subs in one restaurant C. replace the manager of a restaurant D. open a new restaurant in a city
Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created through liberal policies focus on
A. redistributive tax, entitlement spending, and increased government spending. B. redistributive tax alone. C. increased government spending alone. D. entitlement spending alone.