Governments often ________ activities that generate external ________.
A. tax; benefits
B. subsidize; costs
C. tax; costs
D. simultaneously tax and subsidize; costs
Answer: C
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Refer to the figure above. What is the equilibrium price of bottled water?
A) $4 B) $8 C) $12 D) $18
Suppose everyone in a town votes that they prefer improved public transportation systems instead of public parks. According to the criteria of independence of irrelevant alternatives that preference should ________ even if a third option not likely to win, like a public zoo, is included in the vote.
A. change to the median B. change to the majority C. stay the same D. change to the average
Under the Social Security program currently in existence
A) benefits are based on need. B) benefits are determined by whether or not one contributed to the system. C) benefits are provided to everyone who contributed to the system EXCEPT those under private retirement programs that provide an annual income in excess of $13,500. D) benefits are guaranteed to be no lower for future retirees than for current retirees.
Using three separate graphs of conventionally-shaped TSB and TSCfunctions show that these values indicate that the regulations outlined in the CAAA of 1990 are (i) efficient; (ii) too lenient; and (iii) too stringent.
According to the EPA’s prospective analysis of the 1990 to 2010 period, total social benefits (TSB) associated with the CAAA of 1990 are estimated at $690 billion ($1990) and the comparable total social cost (TSC) estimates are $180 billion ($1990).