If there are only two goods and these are consumed in fixed proportions, the price elasticities of demand for these two goods will sum to
a. 0.0
b. -0.5
c. -1.0
d. a number between 0 and -1.
c
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Adam Smith noted that when public expenditures are undertake for the general benefit of everyone in a society then _____
a. there is considerable conflict between the benefit principle and the ability-to-pay principle b. there is no conflict between the benefit principle and the ability-to-pay principle c. the benefit principle provides little guide to tax policy d. the ability-to-pay principle provides little guide to tax policy
A 1995 evaluation concluded that programs that emphasized labor force attachment (work experience) were much more successful than programs that emphasized human capital development
Indicate whether the statement is true or false
A foreign aid that flows from one country to another is called a(n):
a. project aid. b. emergency aid. c. development aid. d. bilateral aid. e. multilateral aid.
Which of the following theories of expectations holds that individuals form expectations by looking only to past values of the variable to be forecast?
A. Rational expectations theory B. Certainty equivalent theory C. Expected value analysis D. Adaptive expectations theory