Who, among the following, said this? "It is generally allowed by all, that men should contribute to the public charge but according to the share and interest they have in the public peace; that is, according to their estates or riches".
A. Benjamin Franklin
B. Sir William Petty
C. Jean Baptiste Colbert
D. Adam Smith
B. Sir William Petty
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Calculations make it clear that for the majority of current retirees, the rate of return on Social Security taxes and benefits was
A. lower than what would have been generated in private stock-market investments. B. greater than what would have been generated in private stock-market investments. C. riskier than what would have been generated in private stock-market investments. D. roughly equal to what would have been generated in private stock-market investments.
Which of the following statements is true?
A) Proximate causes of prosperity are shaped by fundamental causes of prosperity. B) Proximate causes of prosperity are effective only in the short run. C) Fundamental causes of prosperity are effective only in the short run. D) Fundamental causes of prosperity are shaped by proximate causes of prosperity.
If the interest rate increases from 5 percent to 7 percent, the present value of a future payment
A) rises. B) falls. C) is unaffected. D) might either rise or fall.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. What is Alice's marginal revenue function?
A. MR = 100 - 0.005QK - 0.01QA B. MR = 100 - 0.005QA - 0.005QK C. MR = 100 - 0.005QA - 0.01QK D. MR = 100 - 0.005QK - 0.005QA