If a country is characterized by low life expectancy, low adult literacy, and low per capita energy consumption, it is likely:
A. an IAC.
B. an LDC.
C. neither an IAC nor an LDC.
D. either an IAC or an LDC.
Answer: B
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An individual will be considered risk neutral if:
a. he is indifferent between taking and not taking up the gamble. b. he pays someone to take away the gamble from him. c. he pays someone to allow him to take the gamble. d. he takes up the gamble under any situation.
The additional cost incurred by using an additional unit of the managerial control variable is defined as the:
A. total cost. B. net benefit. C. net cost. D. marginal cost.
The government of Silverado raises revenue through a general income tax paid by all its residents to operate the city's marina. The marina is used by private boat owners. This method of raising revenue to operate the marina is
A) inconsistent with the benefits-received principle. B) consistent with the benefits-received principle. C) consistent with the ability-to-pay principle. D) inconsistent with the ability-to-pay principle.
A fall in the government's budget deficit will lower
A) equilibrium GDP and consumption. B) consumption and saving. C) saving and GDP. D) All of the above are correct.