Janet prefers to implement a public policy that can save 100 people out of 1,000 people than a policy that has a 10% chance of saving 1,0000 people. Once can say that Janet's preferences
A) do not support the expected utility theory.
B) are not rational.
C) are not complete.
D) are not risk neutral.
D
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In the short run
a. firms can enter the industry but no firm can exit. b. firms can exit the industry but no firm can enter. c. firms can enter and exit the industry. d. no firm can enter or exit the industry.
Taxes collected on the basis of the benefits-received principle
a. provide the states with their main sources of revenue b. tend to redistribute income from rich to poor c. collect the same total amount from each individual d. connect the revenue side of the budget with the spending side of the budget e. make it possible for government to spend money on activities that markets can't provide
Ceteris paribus, if consumer tastes change so that more people are eating broccoli, then what will happen to the market equilibrium for cabbage, a substitute good for broccoli?
a. Price will increase, and quantity will increase. b. Price and quantity will stay the same. c. Price will decrease, and quantity will increase. d. Price will increase, and quantity will decrease. e. Price will decrease, and quantity will decrease.
Any society bound by a contract calling for an income distribution that would ________ the well-being of the worst-off member of society would allow for inequality if that inequality had the effect of ________ the lot of the very poor.
A. minimize; improving B. maximize; worsening C. minimize; worsening D. maximize; improving