Explain how the decision by parents to not immunize their children, hoping that their children will not get sick because other parents have had their children immunized, is an example of free riding. How is this behavior dangerous to the public?
What will be an ideal response?
Free riding is benefiting from a good without paying for it. Parents who do not get their children immunized, and instead assume their children will not get sick because all the other children that their own kids will be in contact with have been immunized, are attempting to benefit from the vaccinations of other children without paying for their own kids' vaccinations. This behavior is dangerous to the public because the likelihood of an unvaccinated child catching and spreading a disease is much greater than that of a child who has been vaccinated.
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If the United States exports planes to Brazil and imports ethanol from Brazil, the price received by U.S. producers of planes ________ and the price received by Brazilian producers of ethanol ________
A) does not change; does not change B) rises; rises C) rises; falls D) falls; falls E) falls; rises
If the MPC is 0.75 and the tax rate is 10%, the expenditure multiplier will equal
A) 0.48. B) 1.48. C) 3.08. D) 3.6.
Which of the following statements is FALSE about the long-run effects of outsourcing?
A) Outsourcing allows countries to specialize in producing what they can produce most efficiently. B) More goods and services can be produced than in the absence of outsourcing. C) Globally wages will increase because of outsourcing. D) Employment levels will decrease globally as the result of outsourcing.
Assuming the market is in equilibrium in the graph shown with demand D and supply S2 at a quantity of 8, consumer surplus is:
A. $7. B. $32. C. $11. D. equal to the producer surplus.