"Reciprocity pacts" started springing up in the
A) 1920s.
B) 1950s.
C) 1960s.
D) 1980s.
D
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Which of the following taxes would result in the greatest tax burden for buyers?
a. A tax on pharmaceuticals b. A tax on luxury cars c. A tax on movie tickets d. A tax on restaurant meals
Government loan guarantees tend to have the effect of:
A. socializing losses and privatizing gains. B. socializing gains and privatizing losses. C. socializing both gains and losses. D. privatizing both gains and losses.
The unemployment that occurs during recessions and depressions is
A. cyclical unemployment. B. structural unemployment. C. frictional unemployment. D. the natural rate of unemployment.
Tom and Jerry have been roommates for the past two years. During this period, they bought 11 CDs together. Now that each is taking his own apartment, they are deciding how to split their possessions. Tom suggests they take five CDs each and give the extra one to Arnold, their neighbor. Jerry, on the other hand, suggests they flip a coin to decide who gets the 11th CD. Assuming they neither like nor dislike being altruistic, which of the two suggestions is Pareto efficient?
A. Jerry's suggestion is Pareto efficient. B. Both suggestions are Pareto efficient. C. Tom's suggestion is Pareto efficient. D. None of the suggestions is Pareto efficient.