Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day. Michelle wants the city to expand the park so her kids have an even larger place to play outside
In this situation, Tomas's and Michelle's actions A) reflect natural and morally neutral preferences.
B) are easy to separate into right and wrong.
C) are all about greed and take no one else into consideration.
D) have no possible way of resulting in compromise.
A
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What element of power is likely to increase in importance in the future, particularly outside of government institutions?
a. the power to create and to buy b. the power behind a military c. the power to collaborate d. the power to develop unique culture
When a perfectly competitive firm sells additional units of output, ________, and when a monopolist sells additional units of output, ________.
A. total revenue always rises; total revenue could rise, fall, or remain unchanged B. total revenue rises; total revenue falls C. total revenue does not change; total revenue rises D. marginal revenue stays the same; marginal revenue rises
The federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the:
A. single-tax theory of taxation. B. pay-as-you-go ("Paygo") theory of taxation. C. benefits-received principle of taxation. D. ability-to-pay principle of taxation.
Which of the following mistakes do consumers commonly commit when making decisions?
a. They take into account monetary costs but ignore nonmonetary opportunity costs. b. They fail to ignore sunk costs. c. They are unrealistic about their future behavior. d. All of the above are mistakes consumers commonly commit when making decisions.