Which one of the following is NOT a government failure?
A. The "bridge to nowhere" in Alaska
B. The FEMA reaction to Hurricane Katrina
C. Allowing federal budget deficits to be financed by foreigners while calling for further tax cuts to help incumbent politicians get reelected
D. Water pollution
D. Water pollution
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The short-run market supply curve in a perfectly competitive industry
a. shows the total quantity supplied by all firms at each possible price. b. is perfectly inelastic at the market price. c. is perfectly elastic at the market price. d. shows the variety of prices that different firms will charge for a given quantity.
If the marginal propensity to consume is 4/5 then what must the marginal propensity to save?
a. 2/5 b. 3/5 c. 8/10 d. 1/5
Compared to the private sector, the distinguishing characteristic of government is its
What will be an ideal response?
National defense is an example of a good that is:
A. only nonexcludable. B. largely nonrival and nonexcludable. C. neither nonrival nor nonexcludable. D. only nonrival