The Lojack car recovery system allows the police to track stolen cars. As a result, they not only recover 90% of Lojack-equipped cars that are stolen but also arrest many auto thieves and shut down many "chop shops" that take apart stolen vehicles to get at their used parts. Thus, Lojack provides both private benefits and positive externalities. If the government were to subsidize Lojack purchases, this would...
Answer: have both private and social benefits.
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The above table gives the government outlays and tax revenues from 2008 through 2012 for two countries. In 2010 country A had a ________ and country B had a ________
A) budget deficit; budget deficit B) budget deficit; budget surplus C) balanced budget; budget deficit D) budget surplus; budget surplus E) budget surplus; budget deficit
When a textile company keeps track of its inventory using a computer and its competitor uses a pad of paper and a pencil, they are both answering the ________ part of one of the two big economic questions
A) "what" B) "how" C) "for whom" D) "where"
One result of a tax, regardless of whether the tax is placed on the buyers or the sellers, is that the
a. equilibrium quantity of the good is unchanged. b. price the buyer effectively pays is lower. c. supply curve for the good shifts upward by the amount of the tax. d. tax reduces the welfare of both buyers and sellers.
For which of the following goods would you most likely observe the characteristic of excludability?
A. A professional baseball game. B. A concert in the city park. C. An interstate highway. D. Exterior Christmas lights.