Policy makers have considered putting computer chips in cars that would allow tax collectors to charge people based on how often they drive during rush hours. These policy makers are dealing with the fact that public roads are
A. excludable public good.
B. purely public good.
C. congestible public good.
D. purely private good.
Answer: C
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Which of the following goods would have the most inelastic demand?
A) bread B) big screen TVs C) luxury cars D) ski vacations
Compared to our trade deficit with Japan from 2002-2009, our deficit with China was
A. much larger. B. slightly larger. C. slightly smaller. D. much smaller.
The following data represent a personal income tax schedule. Answer the question on the basis of this information. Refer to the below table. As income increases, the average tax rate:
A. Increases
B. Decreases
C. Remains constant
D. Has no definite pattern
Refer to Table 8-6. Consider the table of production and price statistics for a small economy in 2013. If the economy only produces the four goods listed below, what is GDP for 2013?
A) $428,000 B) $267,000 C) $24,000 D) $1,424