Suppose that everyone prefers to live in a society without poverty. Further suppose that some private charities are successful in reducing poverty. People who do not contribute to the charities
a. receive no external benefit from private antipoverty programs.
b. decrease the reliance of individuals on antipoverty programs.
c. can free ride on the generosity of others.
d. are most likely to be in favor of government-sponsored programs.
c
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The change in saving divided by the change in disposable income is the:
a. propensity to save. b. saving function. c. average propensity to save. d. extra propensity to save. e. marginal propensity to save.
If a nation has a higher level of technology than another nation it means that they will be able to produce:
A. more outputs with the same inputs. B. less with the same amount of physical capital. C. more with no capital. D. the same output with the same level of inputs.
If you have a comparative advantage in a particular task, then:
A. you give up less to accomplish that task than do others. B. you have specialized in that task, while others have not. C. you complete it faster than other people. D. you give up more to accomplish that task than do others.
If you own a condo and you decide to lease it to your cousin,
A. there is no opportunity cost of leasing the condo because you collect rent from your cousin. B. there is no opportunity cost of leasing the condo because you own it. C. there is an opportunity cost of leasing the condo because you could have chosen to live in it. D. the only cost relevant to this decision is the price you paid for the condo.