Refer to the information provided in Figure 1.1 below to answer the question(s) that follow.
Figure 1.1Refer to Figure 1.1. There is ________ relationship between the daily temperature and the number of gallons of ice cream purchased.
A. a positive
B. both a negative and a positive
C. a negative
D. an inverse
Answer: A
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As a possible approach to eliminating the government budget deficit, increasing taxes on the rich only would
A) not lead to a significant increase in tax revenues. B) lead to a significant increase in tax revenues. C) lead to an increase in real GDP. D) lead to a greater number of entitlements.
When representatives vote on behalf of the people and make choices about the quantity of public goods provided,
a. the outcome is socially efficient b. the outcome is the same as if individuals had purchased the goods on the market c. they reflect the views of all people, not just the voters d. voter surveys lead to too much of the public good being bought e. government failure is a likely result
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in country infrastructure. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in budgets and capital budgeting projects. e. Expected changes property rights, tax policies, and risks.
Entry of new firms in monopolistically competitive industries can convey a negative externality on producers because firms lose customers and profits from the entry of new competitors. This externality is called the