Optimal user fees are paid only by the consumers of the good or service produced.
A. True
B. False
C. Uncertain
A. True
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Everything else held constant, if aggregate output is to the ________ of the IS curve, then there is an excess ________ of goods which will cause aggregate output to rise
A) right; supply B) right; demand C) left; supply D) left; demand
If the government overcorrected in a situation of external costs a. More than the efficient amount of the good would end up being produced
b. Less than the efficient amount of the good would end up being produced. c. It would result in a welfare cost in that market that was bigger than the initial welfare cost. d. Both a and c are would result.
Economists generally agree that the most important tax in the U.S. economy is the
a. investment tax. b. sales tax. c. property tax. d. labor tax.
The fact that roughly 70 percent of Americans are overweight speaks to the argument of behavioral economists that people lack complete ______.
a. appreciation for the present b. belief in traditional economics c. control over themselves d. knowledge of the market