Utilitarianism is a type of
a. consequentialism
b. relativism
c. deontological ethics
d. egoism
Ans: a. consequentialism
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An increase in the expected future price of a good will cause the current demand for the good to:
a. decrease, which is a shift to the left of the demand curve. b. decrease, which is a shift to the right of the demand curve. c. increase, which is a shift to the left of the demand curve. d. increase, which is a shift to the right of the demand curve.
Answer the following statement(s) true (T) or false (F)
1. In a pay-as-you-throw (PAYT) program, the price per unit of MSW services can be based on either the weight or the volume of waste generated. 2. A back-end charge is implemented as a price per household. 3. The city whose unit pricing program is considered to be the prototype is Philadelphia. 4. If there is a negative externality associated with consumption of a product, the MSBof that product is below the MPB.
Which of the following in not a reason that a lump-sum tax imposes a minimal administrative burden on taxpayers?
a. Everyone can easily compute the amount of tax owed. b. There is no benefit to hiring an accountant to do your taxes. c. Everyone owes the same amount of tax, regardless of earnings. d. The government can easily forecast tax revenues.
Figure 10-18
Beginning in from long-run equilibrium at point E1, the aggregate demand curve shifts to AD2. The economy's path to a new long-run equilibrium is represented by a movement from
a.
E3 to E1 to E2.
b.
E1 to E3 to E2.
c.
E2 to E1 to E2.
d.
E1 to E2 to E3.