Antipoverty programs funded by taxes on the wealthy are sometimes advocated on the basis of the benefits principle
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
If the reserve requirement were cut in half, the banking system’s ability to extend loans would be
a. increased by 50 percent. b. reduced by 100 percent. c. increased by 25 percent. d. nearly doubled.
Table 1.2 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus. Complete the table by calculating the required opportunity costs for both the B-1 and Stealth bombers. Table 1.2Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)A20NA195 B35 180 C45 150 D50 100NAThe highest opportunity cost in Table 1.2 for B-1 bombers in terms of Stealth bombers is
A. 33 B-1 bombers B. 10 B-1 bombers C. 10 Stealth bomber per B-1 D. 10 Stealth bombers per B-1
A profit-maximizing firm will:
A. expand employment if marginal revenue product equals marginal resource cost. B. reduce employment if marginal revenue product equals marginal resource cost. C. reduce employment if marginal revenue product is less than marginal resource cost. D. expand employment if marginal revenue product is less than marginal resource cost.
If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line. B. negatively sloped and "bowed inward" toward the origin. C. negatively sloped and "bowed outward" from the origin. D. a positively sloped straight line.