Who sets the rules for entitlements when spending is authorized under this category?
A) the agency involved B) the Congress when it appropriates the spending
C) each individual state D) the President
B
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Classify the following goods into public goods, private goods, club goods, or common resources with suitable reasons
a. Congested roads b. Education provided by a university
Figure 7-5
Which of the graphs in Figure 7-5 could be a firm's total fixed cost curve?
a.
(a)
b.
(b)
c.
(c)
d.
(d)
When the cross elasticity of demand is _________, the goods or services are _________.
A. zero; substitutes B. negative; substitutes C. positive; complements D. positive; substitutes
An effluent fee is more effective when imposed on
A. neither the producer nor the consumer of the product. B. the consumer of the product. C. the supplier of the raw material used by the firm. D. the firm or producer of the product which generates pollution.