The one disadvantage of paper money is that it is easier to
a. duplicate and counterfeit.
b. carry.
c. divide.
d. store and use at a later time.
a
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Assume that each day ten thousand children watch Sesame Street on public television and that watching Sesame Street generates a benefit of $100 per child per year. Once a year, public television holds a pledge drive asking viewers to make voluntary contributions in order to keep the programming available to everyone. Suppose each parent has just one child who watches Sesame Street. Each parent has a private incentive to contribute ________ during the pledge drive.
A. $10,000 B. $0 C. $100 D. $1,000,000
New homes built by the airport suffer from noise pollution created by a change in air-traffic patterns. If compensation is paid to the homeowners, _____
a. they will internalize the externality b. they will use the money to buy soundproofing for their homes c. it should be equal to the marginal cost of their harm d. it will reduce or eliminate any incentive to avoid the problem
Who did President Jimmy Carter appoint to head the Federal Reserve beginning in 1979?
a. Ben Bernanke b. Alan Greenspan c. Paul Volcker d. Arthur Burns
Consider a Stackelberg duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi = 2. Based on this information, the Stackelberg leader's marginal revenue function is:
A. MR(QL) = 50 ? 2QL + c1/2. B. MR(QL) = 50 ? 2QL + c2/2. C. MR(QF) = 100 ? QF + c2/2. D. MR(QF) = 100 ? 2QF + c1/2.