Does the benefits received principle work well for all public goods?
The benefits received principle means that the individuals receiving the benefits are those who pay for them. Although this principle may work for some private goods, it does not work well for public goods such as national defense and the judicial system. Because we collectively consume national defense, it is not possible to find out who benefits and by exactly how much.
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Refer to Table 2-16. Finland has a comparative advantage in the production of
A) neither product. B) both products. C) lumber. D) cell phones.
Which of the following statements is (are) correct? According to the Feldstein-Horioka Saving Investment Puzzle
a. countries with relatively low saving to income ratios have relatively high investment to income ratios. b. there is no correlation between investment and saving in developed countries. c. countries with a high ratio of saving to income have high ratios of investment to income. d. Both a and b
In the 20th century, one of the icons of achievement was ___________ who flew the first plane over the Atlantic Ocean, nonstop, from the U.S. to Europe
a. James Fichon b. F. Scott Fitzgerald c. Charles Lindbergh d. Eleanor B. Earhart
Which of the following would likely lead to the greatest improvement in health status of the population in the United States?
a. Higher per capita incomes. b. More spending on public health, such as improved water supply and sanitation. c. More medical care spending overall. d. Improved lifestyles, including reductions in the use of tobacco, alcohol, and drugs. e. More rural hospitals.