(Consider This) From an economist's perspective:
A. small government is better than big government.
B. big government is better than small government.
C. regardless of size, government is incapable of achieving allocative or productive efficiency.
D. the size of government doesn't matter, as long as spending occurs up to where MB = MC.
Answer: D
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Refer to Scenario 5.5. Which of the following statements is true?
A) The expected cost of not fixing the car is less than the cost of fixing it. B) The expected cost of not fixing the car is greater than the cost of fixing it. C) It is not possible to tell whether the expected cost of fixing the car is less than the cost of fixing it, because the probabilities are subjective. D) It is not possible to tell whether the expected cost of fixing the car is less than the cost of fixing it, because the probabilities are not equal.
Which of the following is a market structure of monopoly?
a. Few firms operating as price takers. b. Single firm operating as a price taker. c. Single firm that is a price maker. d. All of these are true.
"Mandating longer sentences for any criminal's third arrest will lead to a reduction in crime. Less crime will reduce the number of police officers cities will hire." This quotation: a. contains positive statements only
b. contains normative statements only. c. contains both normative and positive statements. d. contains neither normative nor positive statements.
A corporate IOU is called a
a. corporate bond b. corporate stock c. common stock d. preferred stock e. convertible stock