Economist B thinks that it is important to identify the condition(s) under which the case for government is strongest. With respect to the provision of nonexcludable public goods, she says
A) people must pay taxes to pay for the nonexcludable public good.
B) firms must pay taxes to pay for the nonexcludable public good.
C) people must actually want the nonexcludable public good that the government provides.
D) people must express their desire for the nonexcludable public good by voting for it.
E) none of the above
C
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In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the sellers was larger than the effect on the buyers
Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) rise; an increase B) rise; a decrease C) fall; a decrease D) fall; an increase
One area of labor issues that the labor side agreement to NAFTA does not open to foreign consultation or investigation is
A) the use of child labor. B) worker exposure to unsafe conditions. C) minimum wages. D) worker's rights to organize. E) worker exposure to toxic hazards.
To be officially counted as unemployed, a person must be
A) at least 16 years old. B) at least 18 years old. C) at least 21 years old. D) any age, so long as you are looking for work.
The principle of backward induction proves that in price-fixing oligopoly games:
a. the players honor the agreement if the game is repeated. b. the players honor the agreement if the game is played five times. c. the players dishonor the agreement if the game is not played more than twice. d. the players dishonor the agreement if the game is repeated a number of times, as determined prior to the start of play.