A quasi-public good is similar to a public good in that one person's consumption of the quasi-public good does not reduce the amount available for everyone else
Indicate whether the statement is true or false
TRUE
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Car A gets 12 miles per gallon. Car B gets 30 miles per gallon. Which is the most economically efficient car?
A) Car A B) Car B C) They are equal in their economic efficiency. D) It is impossible to determine without more information.
Why would a wage differential due to discrimination in hiring be unlikely to persist in a competitive labor market?
a. There is a cost advantage for firms that do not discriminate. b. Workers who are victims of discrimination will eventually drop out of the labor market. c. Competing firms will hire fewer of the workers who are temporarily victimized by discrimination. d. Discrimination cannot exist in markets.
Policymakers generally are:
A. more concerned about structural deficits than cyclical deficits. B. more concerned about cyclical deficits than structural deficits. C. not concerned about structural or cyclical deficits. D. equally concerned about structural and cyclical deficits.
Suppose that we compare shares of income earned by different U.S. groups by dividing all households into five groups. Which of the following statements about the income distribution in the United States is correct?
A. Shares of income remain roughly constant as we move from the lowest quintile to the highest quintile. B. Shares of income decrease as we move from the lowest quintile to the highest quintile. C. Shares of income increase as we move from the lowest quintile to the highest quintile. D. None of these