Which of the following is an example of a person or firm that is most likely to have been granted a public franchise?
A) medical doctor
B) taxi cab driver
C) the local pizza parlor
D) the local telephone company
E) the local Honda dealership
D
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Any bank that uses deposits to make loans: a. operates on a 100 percent reserve system
b. operates on a fractional reserve system. c. does not operate on a reserve system. d. does not keep reserves in its vaults. e. charges an interest rate determined by the reserve ratio.
Which of the following would raise both the equilibrium price and the equilibrium quantity of strawberries?
a. A decrease in the demand for strawberries. b. An increase in the demand for strawberries. c. A decrease in the supply of strawberries. d. An increase in the supply of strawberries.
Public choice analysis indicates that politicians will find
a. budget deficits more attractive than budget surpluses. b. budget surpluses more attractive than budget deficits. c. budget deficits attractive during an economic boom, but surpluses attractive during a recession. d. tax increases more attractive than increases in government spending.
If the government needs to raise revenue to pay for a public good, the ideal tax structure would tax
A. only citizens who state that they will use the public good. B. all citizens in proportion to their willingness to pay for the public good. C. all citizens by the same proportion of their income. D. all citizens by the same amount.