As the U.S. economy expanded and entered the 20th century, its federal government's need for renewable revenue sources grew. Expenditures significantly increased for all of the following reasons except
(a) Military
(b) Expanding regulatory agencies
(c) Public works, education and sanitation
(d) Foreign interventionism
(c)
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Lulu purchased a security that promises to pay $50 twice a year from January 15, 2012 to January 15, 2016 and then pay $1,000 on January 15, 2016. The security is a debt to the company that issued it. The security is a
A) net investment to the company that issued it. B) share of stock. C) depreciating asset. D) physical capital. E) bond.
Regulators usually encourage natural monopolists to engage in
A) marginal cost pricing. B) average cost pricing. C) marginal cost pricing, with subsidies from the government offsetting the losses. D) inefficient pricing.
Two cities face identical prices for their housing. City A decided to be a pollution free city "Clean town" and all the factories would locate in city B "Smogville", we expect the prices of housing in city B "Smogville" to
a. increase b. decrease c. stay the same d. none of the above
Who benefits from a subsidy to buyers?
A. Only sellers benefit from any kind of subsidy. B. Only consumers benefit, since it is their subsidy. C. The benefit is shared depending on the elasticity of the supply and demand curves. D. None of these statements is true.