Current discussions about the financing of congressional campaigns and presidential elections focus on the problem of
a. internalities
b. externalities
c. public goods
d. public choice
e. representation
D
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The principle of diminishing marginal utility says that
A) marginal utility is negative as the quantity of the good consumed increases. B) total utility decreases as the quantity of the good consumed increases. C) total utility increases by smaller and smaller amounts as the quantity of the good consumed increases. D) total utility increases by larger and larger amounts as the quantity of the good consumed increases.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
In which location are ginseng plants most likely to be harvested to extinction?
a. in a patrolled area of a state park b. on a privately-owned ginseng farm c. in the middle of a deserted public park d. in the botanical gardens of a university
Which type of statement is most likely to include the word "should"?
A. Fair statement B. Normative statement C. Factual statement D. Positive statement