A public good or service can be consumed by paying and nonpaying customers alike
a. True
b. False
Indicate whether the statement is true or false
True
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The Clayton Act of 1914 was labeled "Labor's Magna Carta." This act recognized labor as property and deemed that it could not be treated as an article of commerce
Indicate whether the statement is true or false
How many countries have deposit insurance programs?
a. About 50 b. About 70 c. About 100 d. All countries
According to the Coase theorem, in the presence of externalities
a. private parties can bargain to reach an efficient outcome. b. government assistance is necessary to reach an efficient outcome. c. the assignment of legal rights can prevent externalities. d. the initial distribution of property rights will determine the efficient outcome.
Which of the following statements is correct?
a. National defense and health are the two largest spending categories for the federal government. b. Welfare programs and highways are the two largest spending categories for state and local governments. c. Sales taxes and property taxes are the two most important revenue sources for state and local governments. d. Corporate income taxes are the largest source of revenue for the federal government.