The cable and subscription TV business is plagued with the problem of "signal theft." People use illegal receivers to capture the company's signal without paying. Enforcement of the company's property right is very expensive. This problem emerges because TV signals are basically
a. economic goods.
b. invisible goods.
c. depletable goods.
d. public goods.
d
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In market economies, income distribution is always going to be completely equitable
Indicate whether the statement is true or false
In a coin toss bet, where both heads and tails are equally likely, you win a dollar on heads but lose a dollar on tails. The expected value of the bet is
a. $0.50 b. -$0.50 c. $1.00 d. $0.00
Why would lack of cooperation between criminal suspects be desirable for society as a whole?
a. The suspects are able to choose optimal outcomes for themselves by acting in their own self interest. b. The prisoners' dilemma safeguards the criminals' constitutional rights. c. More criminals will be convicted. d. None of the above is correct.
The average tax rate is defined as
A. total tax due/change in taxable income. B. total tax due/total taxable income. C. change in taxes due/total taxable income. D. change in taxes due/change in taxable income.