To maximize the economic pie, government should
A) provide only those public goods whose benefits outweigh their costs.
B) provide no public goods.
C) provide only those public goods whose costs outweigh their benefits.
D) provide all possible pure public goods.
A
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If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%. B. 2.89%. C. 28.95%. D. 0.35%.
During an inflationary period caused by excessive aggregate expenditure, which type of government budget would most effectively combat inflation?
a. a deficit budget b. a balanced budget c. a surplus budget d. a full-employment budget
Figure 7.5
The consumer must decide how to split $20 between spending and saving.Refer to Figure 7.5. If the consumer uses cognition to offset present bias, he/she will consume ________ now and save ________ to maximize utility.
A. $12; $8 B. $18; $2 C. $12; $2 D. $0; $20
Private goods are those goods
A) that violate the principle of rival consumption. B) for which no public market exists. C) that can only be consumed by one individual at a time. D) to which the non-exclusion principle applies.