Fiscal policy includes changing the level of household taxes.
Answer the following statement true (T) or false (F)
True
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The loss of the profit motive by a publicly-owned natural monopoly causes which of the following to happen?
A. Increased pressure from the public to turn a profit B. Increased pressure from the public to cut costs C. Decreased incentive to improve efficiency D. Increased motivation to cut costs
According to supply-side economists, what impact do mandatory benefits have?
A. They increase payroll costs and shift AS to the left. B. They reduce payroll costs and shift AS to the right. C. They increase payroll costs and shift AS to the right. D. They reduce payroll costs and shift AS to the left.
Protecting endangered species is not an example of a public good because there are no external benefits associated with it.
Answer the following statement true (T) or false (F)
Refer to the tables. Suppose that the amount and quality of resources are the same in both countries. We can conclude that:
A. Duckistan is technologically better than Herbania at producing military goods.
B. Herbania is technologically better than Herbania at producing both military goods and
civilian goods.
C. the total opportunity cost of producing 4 units of military goods is the same in both
countries.
D. Herbania is technologically superior to Duckistan in producing civilian goods.