Because of the ________ of vaccinations, economic efficiency would be improved if more people were vaccinated
A) negative externality
B) positive externality
C) moral hazard
D) adverse selection
Answer: B
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What would happen if three more restaurants opened in a small town where only four restaurants were open for business originally?
A. People would pay higher prices to eat out. B. The town would raise significantly more taxes. C. The restaurants would become more like a competitive market. D. The restaurants would form a cartel in the town.
The marginal tax rate is the total tax paid divided by the amount of taxable income
a. True b. False Indicate whether the statement is true or false
An essential point, among many, in the refutation of the “cheap foreign labor” argument is that
A. foreign workers have a lower standard of living. B. foreign workers are less productive. C. low foreign wages mean fewer exports for the United States. D. the United States does not benefit from cheap foreign labor so the goods should be kept out.
A recent epidemic of mad cow disease caused the government to mandate that thousands of cows be completely destroyed. This will likely cause:
A. the supply of leather shoes to decrease. B. the demand and the supply of leather shoes to increase. C. the demand for leather shoes to increase. D. It will not affect the market for leather shoes.