Which is not a good method of providing public type goods by private means?
A. Clubs
B. Free markets with competing entrepreneurs
C. Funding by donation
D. Private contracts
Answer: B
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The ratio of the price of good X on the horizontal axis to the price of good Y on the vertical axis is the ____ of the budget line
a. marginal rate b. slope c. marginal utility d. equalization rate
Limiting the immigration of highly educated professionals hurts U.S. economic growth because
What will be an ideal response?
The change in the price of a good leads to a change in ________, which leads to a ________.
A. supply; movement along a supply curve B. quantity supplied; movement along a supply curve C. supply; shift of the supply curve D. quantity supplied; shift of the supply curve
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. The expected value of the payoff is ________ for the first game and ________ for the second game.
A. $4.50; $5.75 B. $5.00; $4.50 C. $5.75; $5.25 D. $5.75; $4.50