Table 15.1Table 15.1 shows the preferred budget in millions for a new sports facility and the number of thousands of voters in a community who prefer that budget. Tom proposed a budget of $6 million while Mary proposed a budget of $3 million. Which of the two candidates will be elected if everyone votes?
A. Tom
B. Mary
C. It will be a tie.
D. The outcome of the election cannot be predicted.
Answer: A
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The marginal propensity to consume (MPC) is equal to
A) 1 + MPS. B) 1 - MPS. C) MPS + 1. D) MPS - 1.
The government can address __________ by providing universal health insurance coverage and charging uniform premiums.
A. expected utility B. asymmetric information C. commodity egalitarianism D. adverse selection
When both exports and imports are considered, the major advantage of international trade is that it allows us to
a. seclude ourselves from foreign products. b. consume a larger, more diverse quantity of goods and services at lower prices than would otherwise prevail. c. benefit at the expense of less-developed nations d. maintain jobs for workers who would otherwise have little to do.
Which of the following was considered a mild recession?
A. 1937-1938 B. 1973-1975 C. 1981-1982 D. 1990-1991