Which of the following statements concerning tariffs is NOT true?
A) A tariff results in a deadweight loss.
B) A tariff creates revenue for the government.
C) A tariff decreases international trade.
D) A tariff leaves the price of imports unchanged.
D
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Economic incentives are designed to make individual self-interest coincide with social interest. According to economists, which of the following methods of pollution control best uses economic incentives to reduce pollution?
A) imposing quantitative limits on the amount of pollution and imposing a penalty for non-compliance with these limits B) rewarding environmental groups for monitoring the activities of private firms that produce products which generate pollution C) requiring the installation of specific pollution control devices D) instituting a system of tradable emission allowances
Monitoring the performance of the people managing the firm is easiest in the case of
A) proprietorships. B) partnerships. C) corporations. D) S corporations.
According to Darity and Myers
A. black men are becoming increasingly marginal to our economy. B. the basic cause of poverty is welfare dependency. C. the best solution to poverty is the negative income tax. D. as our economy continues to expand, black poverty will decline.
Answer the following statement true (T) or false (F)
1) If marginal utility is diminishing, total utility must also be declining. 2) Marginal utility is total utility divided by the number of units consumed. 3) When total utility is at a maximum, marginal utility is zero. 4) When a consumer shifts purchases from X to Y, the marginal utility of X falls and the marginal utility of Y rises.