The cost to taxpayers of smoking include
A. the cigarette taxes that are collected.
B. decreased Social Security benefits to those who die prematurely from a smoking related illness.
C. the increased cost of Medicaid patients who smoke.
D. decreased long-term care costs for those who die prematurely from a smoking related illness.
Answer: C
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The national debt is the total amount the ________ government has ________ to make expenditures that exceed tax revenue
A) state and local; borrowed B) federal; taxed U.S. citizens C) state and local; taxed U.S. citizens D) federal; borrowed E) federal; loaned
Why might a union find that attaining the goal of employing all its members and the goal of maximizing total union wage receipts to be incompatible objectives?
What will be an ideal response?
All of the following statements are true except
A. Until 1971 the United States had run a trade surplus virtually every year of the 20th century. B. The U.S. ran relatively small trade deficits through most of the 19th century. C. The U.S. was the only industrial power to raise tariffs during the 1930s. D. World trade in the 1930s dwindled to a fraction of what it had been in the 1920s.
Exhibit 11-12 A monopsonist
In Exhibit 11-12, suppose this labor market is unionized by a powerful union which forces a wage of $35 upon the industry. The firm would respond by hiring ____ workers and paying a wage of ____.
A. 40; $35 B. 60; $30 C. 70; $27 D. 60; $35