When the federal government owns land resources, such as parks, that are funded by tax dollars,
a. park mangers receive full information about visitor desires simply by asking visitors.
b. public park managers have the same incentives as private park managers, where visitors pay at least the actual costs of use.
c. park managers devote much time and effort to satisfying congressional desires instead of visitor desires.
d. park managers will be well-informed of visitor demands regardless of the funding mechanism.
C
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The marginal propensity to consume measures the ratio of the:
a. average amount of our income that we spend. b. average amount of our savings that we spend. c. change in consumer spending to a change in money holdings. d. change in consumer spending to a change in interest rates. e. change in consumer spending to a change in income.
Amanda talks with several different brokers at a social gathering. She hears the following advice from brokers A, B, and C. Which broker, if any, gave her incorrect advice?
a. Broker A: "There are risks in holding stocks, even in a highly diversified portfolio.". b. Broker B: "Portfolios with smaller standard deviations have lower risk.". c. Broker C: "Stocks with greater risks offer lower average returns.". d. They all gave her correct advice.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hamburger is $8.00. Tom's monthly income is
A. $2.50. B. $20. C. $80. D. $160.
In monopolistic competition, firms can have some market power
A. by virtue of size alone. B. because of barriers to exit from the industry. C. because of barriers to entry into the industry. D. by producing differentiated products.