At a 3.5 percent annual growth rate it would take 20 years for GDP per capita to double.
Answer the following statement true (T) or false (F)
True
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What is required for a positive externality to occur?
A) The full benefits of an action aren't taken into account. B) The intention or plan to directly help other people C) A concern for social welfare D) Courtesy and honesty E) All the above.
________ occurs when households can alter their behavior and do something to legally avoid paying a tax.
A. Tax incidence B. Tax shifting C. Tax evasion D. Tax depreciation
Real-world markets:
A. ensure that sellers will always be honest and provide accurate information because those who are dishonest or provide inaccurate information go out of business. B. can operate efficiently only if government takes steps to correct informational problems. C. provide no mechanism for solving informational problems. D. often involve deception, cheating, and inaccurate information.
A professor changes the penalty for cheating on exams from getting a 0 on the exam to getting an F in the course. The professor has
A) decreased the marginal benefit of cheating. B) recognized that students don't make rational choices. C) increased the marginal cost of cheating. D) made all the students act in the social interest. E) recognized that students don't respond to incentives.