What is one of the traditional political uses of tariffs?
a. protection of borders
b. protection of vested economic interests
c. protection of military secrets
d. protection of exchange rates
b. protection of vested economic interests
One of the traditional political uses of tariffs is the protection of vested economic interests.
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Of the types of business organizations in the United States, corporations account for ________ percentage of firms and ________ percentage of profits
A) smallest; neither the largest nor smallest B) neither the largest nor smallest; the largest C) the smallest; the largest D) the largest; the largest
A metal-stamping factory moves next to a day care center. Noise from the factory makes it impossible for the kids to nap. It would cost the factory $5 million to move; it would cost $1 million for the day care center to move. Sound insulation for the factory costs $1 million; insulation for the day care center costs $200,000 . The court initially determines that the day care center has the
property right and orders the factory to purchase insulation for the day care. But on appeal the factory is awarded the property right. How would the optimal solution to this problem change after the appeals court decision? a. The insulation would still be bought, but it would be bought by the day care center, a result consistent with the Coase theorem. b. Insulation for the factory would be bought instead of insulation for the day care center, a result consistent with the Coase theorem. c. Insulation for the day care center would still be bought, but it would be bought by the factory, a result consistent with the Coase theorem. d. Insulation for the factory would be bought instead of insulation for the day care center, a result inconsistent with the Coase theorem. e. The day care center would move instead of buying insulation, a result consistent with the Coase theorem.
Which of the following are components of fiscal policy?
What will be an ideal response?
Figure 9.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. If the insurance companies are pessimistic and set their price according to their pessimistic expectations:
A. the companies' pessimism is not justified. B. the market will include some low-cost and some high-cost customers. C. the market will include only low-cost customers. D. the market will include only high-cost customers.