The subject matter of public economics falls into the two general categories of _____ and _____
a. public interest; private interest
b. coercion action; individual liberty
c. revenue generation; government spending
d. civilian activities; military duties
c
You might also like to view...
The price of a cowboy hat is $100. Willie can produce a hat at a marginal cost of $130, Waylon can produce at a marginal cost of $100, and Merle can produce at a marginal cost of $85. Which of the following statements is correct?
A) The sum of producer surplus is $15. B) All three of these sellers will gain producer surplus from selling a hat. C) The sum of producer surplus is $30. D) Willie's producer surplus is $30. E) The sum of producer surplus is $45.
A business cycle is the period of time in which:
a. a business is established and ceases operations. b. there are four phases: peak, recession, trough and expansion. c. the price level varies with real GDP. d. expansion and contraction of economic activity are equal. e. none of these are true.
Each firm in a monopolistically competitive industry faces a downward-sloping demand curve because
a. there are many other sellers in the market. b. there are very few other sellers in the market. c. the firm's product is different from those offered by other firms in the market. d. the firm faces the threat of entry into the market by new firms.
The cost of waiting two months for health care to address a debilitating problem in Canada is most accurately described as
A) an explicit cost. B) an accounting cost. C) no real cost. D) an opportunity cost.