If official U.S. poverty statistics included in-kind transfer payments,
a. the poverty rate would be close to zero
b. the poverty rate would be lower
c. the government deficit would be lower
d. the inflation rate would be higher
e. the top 10 percent of those in the income distribution would be wealthier
B
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Free entry is said to exist in an industry when:
A) all firms entering an industry enjoy economies of scale. B) entry is unfettered by any special legal or technical barriers. C) equal amounts of inputs are available to all firms entering an industry. D) the government subsidizes costs for all new firms entering an industry.
Both a defendant and plaintiff believe there is an 80 percent chance that the plaintiff will win $500,000 and a 20 percent chance that the plaintiff will lose and be awarded nothing (zero). If the plaintiff's litigation cost is $150,000 and the defendant's litigation cost is $200,000, the defendant would be willing to pay any amount up to ________ to settle.
A) $250,000 B) $200,000 C) $600,000 D) $550,000
Assume that a city can earn an additional $100,000 of revenue each year from using drones to catch speeding drivers. What must the additional cost of using drones to catch speeders be to make this economically rational?
What will be an ideal response?
When the regulatory process itself becomes a drag on economic growth, society experiences
A. Compliance costs of regulation. B. Efficiency costs of regulation. C. Budgetary costs of regulation. D. Administrative costs of regulation.