Suppose there is proposed legislation that would subsidize the domestic commercial aircraft manufacturing industry in the U.S., to be funded with a new 1 percent national sales tax. Which of the following categories best fits this proposed legislation?
a. Traditional public goods legislation
b. Special-interest legislation
c. Competing-interest legislation
d. Populist legislation
b
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Assume MUc and MUd represent the marginal utilities that Alyssa receives from the consumption of products C and D, respectively. Given a fixed budget, Alyssa could increase her total utility by spending more on C and less on D if initially
A. 
> 
B. MUd > MUc
C. MUd < MUc
D. 
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The demand for bus service is perfectly elastic at a price of $1.25 a ride. The table above shows the bus company's marginal cost and the marginal social cost of the bus service
If the government levies a tax on bus rides so that the bus company takes into account the marginal social cost, the tax will be ________ a ride. A) $0.75 B) $1.60 C) $1.25 D) $3.25
The paradox of thrift refers to the idea that
A. people who save are usually those who cannot afford it. B. as people become more thrifty, incomes may fall. C. the thrift industry (banks and savings and loans) wants some people to save so that others may borrow. D. saving is necessary for economic development.
Evan knows his GPA would skyrocket if he could break his horrible habit of procrastinating. An example of a commitment device Evan could use would be:
A. to allow himself one hour of leisure for every half-hour of studying he does each day. B. to exercise before studying in order to be refreshed. C. to pay a student to meet him each afternoon for 2 hours in the library to ensure he studies every day. D. All of these are commitment devices.