Consumers concentrate on public choices rather than private choices, because information and the time required to acquire and digest it are scarce
Indicate whether the statement is true or false
false
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The marginal product of a country's workers falls during winters due to excessive cold. Which of the following is likely to happen in this case, assuming all else equal?
A) The country's labor demand curve will shift to the right in winter. B) There will be an upward movement along the labor demand curve. C) The country's labor demand curve will shift to the left in winter. D) There will be a downward movement along the labor demand curve.
Based on the above table, an open market operation in which the Fed purchased $100,000 of government securities would
A) lead to a maximum potential expansion of the money supply of $1 million. B) create a reserve deficiency for the banking system. C) cause demand deposits to fall by $100,000. D) lead to a maximum potential expansion of the money supply of $100,000.
What is the price of a coupon bond that has annual coupon payments of $75, a par value of $1000, a yield to maturity of 5%, and a maturity of two years?
A) $1043.08 B) $1046.49 C) $1000.00 D) $1150.00
There are ten states in the democratic nation of Katlandia, and each state has ten thousand residents. Although incomes vary, each Katlandian pays a tax equal to the total cost of all government projects divided by the number of residents in the country. Currently, two states each have one army base. An army base adds $2 million to a state's local economy each year. In addition, in terms of increased security, the annual marginal benefit to Katlandia of having an additional army base is shown below. The total cost of an army base is $8 million per year.
Taxes in Katlandia are:
A. progressive. B. regressive. C. proportional. D. based on each resident's willingness to pay.