A crowded beach without an entrance fee is a ________ good.
A. private
B. public
C. commons
D. pure public
Answer: C
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Because public debt is not evenly held by the public,
a. there may be a disproportionate burden on the wealthy who could pay more in taxes than they get back in interest b. there is no disproportionate burden in the economy because, on average, tax payments and interest payments balance out c. the middle class benefits because the rich pay high taxes and the poor hold few bonds d. there is a disproportionate burden on debt holders because interest payments are not tax deductible e. there may be a disproportionate burden on the poor in the economy because they may end up paying more in taxes than they receive in interest payments
if the govt levies $20 billion in taxes to finance additional spending on military weapons, the net impact on total employment will be
What will be an ideal response?
Farming in poor countries is considered to be:
A. cost intensive. B. labor intensive. C. capital intensive. D. production intensive.
Consumer surplus:
A. is minimized in market equilibrium. B. measures the value between the actual selling price of a product and the price at which sellers are willing to sell the product. C. measures the value between the price consumers are willing to pay for a product and the price they actually pay. D. measures the price at which sellers extract excess profits from consumers.