Which of the following happens when a Pigouvian subsidy is provided?
A) The marginal social cost curve shifts upward.
B) The marginal private cost curve shifts downward.
C) The marginal social benefit curve shifts downward.
D) The marginal private benefit curve shifts upward.
D
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In an open economy, this country will ________ million bushels of corn. 
A. import 600 B. export 300 C. import 150 D. export 600
The total demand for a public good is found by
A) horizontally summing all individual demands. B) vertically summing all individual demands. C) finding the demand from the median voter. D) dividing the marginal cost of the good by the number of voters.
Requiring Medicare participants to pay a small fraction of the cost of their medical care
a. reduces the quantity of health care they demand to zero b. has no effect on the amount of health care they consume, but does generate revenue for the government c. reduces their utilization of health care without compromising their health d. actually increases the amount of consumer surplus they receive e. amounts to a significant burden for most of those participants
Which of the following is NOT a characteristic of a constant cost competitive industry? As the industry expands in the long run,
A. input prices remain constant. B. the number of firms remain constant. C. the cost of production remains constant. D. the price of the product remains constant. E. none of the above