The best example of a merit good or activity is:
A. exercising too much.
B. teaching baseball to boys and girls in the community.
C. excessive consumption of pork.
D. providing free beer to teenagers.
Answer: B
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The government imposes a sales tax on hot dogs. The tax would be paid entirely by the hot dog buyers if the
A) supply is perfectly elastic. B) supply is perfectly inelastic. C) demand is perfectly elastic. D) None of the above answers is correct.
Based on the data in the above table, the table shows a market for a good with
A) an external cost. B) an external benefit. C) a mixed externality. D) no externalities.
The first federal antitrust law ever passed was the Sherman Act
Indicate whether the statement is true or false
The monetary base consists of:
A) currency plus reserves. B) currency plus required reserves. C) currency plus excess reserves. D) currency plus demand deposits.