If a government wants to distribute the burden of increased spending onto future generations it should:
a. Increase taxes
b. Borrow from the public
c. Print more money
b. Borrow from the public
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Oligopolies are difficult to analyze because
A) oligopolies are a recent development so economists have not had time to develop models. B) demand and cost curves do not exist for these types of industries. C) the firms are so large. D) how firms respond to a price change by a rival is uncertain.
Rent controls have the effect of keeping prices under control and maintaining an adequate supply of affordable housing for lower income people
Indicate whether the statement is true or false
According to Figure 4.1, which of the following statements is true?
A. Bundle A would be preferred to bundle C.
B. Bundle A would be preferred to bundle B.
C. Bundle C would be preferred to bundle D.
D. Bundle B would be preferred to bundle A.
Answer the following questions true (T) or false (F)
1. A consumer maximizes her total utility from a bundle of goods when her marginal utility from each good is equal. 2. The economic model of consumer behavior explains how consumers' tastes and preferences are formed. 3. To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is maximized.