In the figure above, the tariff ________ the domestic production of shirts in the United States by ________ per year
A) increases; 8 million
B) decreases; 16 million
C) increases; 4 million
D) decreases; 8 million
A
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Food stamps provided by the government to households are an example of
A) vouchers. B) marginal benefits from producing a good or service. C) marginal cost from producing a good or service. D) marginal external cost. E) a government good.
Since the 1960s, SAT scores have been
A. falling. B. rising. C. stayed the same. D. none of these answer options are correct.
Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. What is Larry's economic surplus from attending State College instead of his next best alternative?
A. $5,000 B. $40,000 C. $20,000 D. $10,000
According to the adaptive rationality standard, people's goals:
A. are a choice variable, and people's choices about which goals to pursue are made efficiently. B. are fixed, and people are efficient at pursuing whatever goals they happen to hold at the moment of action. C. are fixed, and people are often inefficient at pursuing those goals, which explains why people experience regret. D. are a choice variable, and people may not be efficient at choosing which goals to pursue.