Which of the following statements about the right to private ownership is false?
A. It enables individuals to obtain, use, and dispose of land and capital resources as they see fit
B. It encourages investment and innovation, and thus fosters economic growth
C. It extends to intangibles such as pieces of music and computer programs
D. It weakens the incentive to maintain the property that one already owns
Answer: D
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The above figure shows Dana's marginal benefit curve for ice cream. If the market price is $2 per gallon, then Dana's consumer surplus from the 4th gallon of ice cream is
A) $0. B) $2. C) $3. D) $10.
Which of the following statements is true?
a. The speculative demand for money at possible interest rates gives the demand for money curve its upward slope. b. There is an inverse relationship between the quantity of money demanded and the interest rate. c. According to the quantity theory of money, any change in the money supply will have no effect on the price level. d. All of these.
The City of Greenville needs to raise revenue. Alderman Black has proposed a $10 tax on red cars in the city, currently numbering 2,000 . Mayor White, who wants more than $20,000 in revenue, proposes taxing these cars at $100 each. Councilwoman
Bluestone goes even farther, suggesting a $1,000 per red car tax, arguing that her proposal will raise $2 million. If maximizing tax revenue is the only consideration, which proposal should pass? Why?
During 2009-2010, the federal budget
What will be an ideal response?