Transfer payments to individuals are about _____ percent of total government spending.
Fill in the blank(s) with the appropriate word(s).
50
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Other things being equal, a national health insurance program would
A) generate higher life expectancies and lower infant mortality rates. B) generate lower life expectancies and higher infant mortality rates. C) increase total health care expenditures. D) increase the quality of life.
As one moves down a straight-line demand curve away from the vertical axis, demand becomes less elastic and then inelastic
a. True b. False Indicate whether the statement is true or false
Government failure is likely to occur for all of the following reasons except:
A. intervention in markets is always simpler than it initially seems. B. special interest groups might lobby government to the detriment of the public good. C. the bureaucratic nature of government intervention does not allow fine-tuning. D. individuals have better information about a situation that affects them than does government.
Total benefits in the table are:Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000
A. decreasing at an increasing rate. B. decreasing at a constant rate. C. increasing at a decreasing rate. D. increasing at a constant rate.