Refer to the data. If year 1 is the first year of this nation's existence and year 4 is the present year, the public debt as a percentage of GDP in year 4 is:
Answer the question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt.
A. 7.5 percent.
B. 1.39 percent.
C. 2.5 percent.
D. 3.9 percent.
D. 3.9 percent.
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Is there any difference between fining people who put contaminants into the atmosphere and charging fees for putting contaminants into the air?
A) Not if the fee and the fine are the same per quantity of contaminant. B) Not if the fee per quantity of contaminant is the same as the fine multiplied by the probability of "getting caught." C) Only in the language or rhetoric, but not in the incentives the laws create. D) Yes, because a fee constitutes social authorization while a fine expresses social disapproval.
Gross domestic product is
What will be an ideal response?
If Congress decreases the amount of government insurance on bank deposits, then this action would:
A. Create a moral hazard problem B. Reduce a moral hazard problem C. Create an adverse selection problem D. Reduce an adverse selection problem
Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are often engaged in
A) the Allais effect. B) the Byrd effect. C) framing. D) prospect theory.