Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a total cost of $1,000. All three citizens will share an equal portion of this cost in taxes. The benefit of the public good is $ 380 for Matt, $ 360 for Joe, and $ 200 for Teresa. In a majority vote, this proposal will most likely be
What will be an ideal response?
accepted; the public good is produced, even though it is economically inefficient.
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An example of in-kind assistance to the poor is TANF
a. True b. False Indicate whether the statement is true or false
Price indexes like the CPI are calculated using a base year. The term base year refers to:
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A rightward shift of a demand curve is called a(n):
A. increase in demand. B. decrease in demand. C. increase in quantity demanded. D. decrease in quantity demanded.