Public finance
A. is not like public economics.
B. develops principles for understanding the economic role of government.
C. only works for local and state governments.
D. all of these answer options are correct.
B. develops principles for understanding the economic role of government.
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For substitutes, cross price elasticity of demand is:
a. Negative b. Positive c. between zero and one only d. zero.
What would happen to U.S. economic welfare if the U.S. eliminated tariffs on solar panel imports?
a. U.S. economic welfare would increase because of the social gains from increased U.S. consumption of solar panels. b. U.S. economic welfare would decrease because the social gains from increased U.S. consumption of solar panels would be less than the social costs inflicted on U.S. solar panel producers. c. U.S. economic welfare would decrease because the social gains from increased U.S. production of solar panels would be less than the social costs associated with increased U.S. consumption of solar panels. d. U.S. economic welfare would increase because the social gains from increased U.S. production of solar panels would exceed the social costs associated with increased U.S. consumption of solar panels.
According to the market clearing model, a one unit permanent increase in government purchases causes:
a. GDP to rise about one unit. b. gross investment to fall about one unit. c. consumption to fall about one unit. d. all of the above.
Selfishness is:
A. exhibited more strongly in the ultimatum game than in the dictator game. B. exhibited more strongly in the dictator game than in the ultimatum game. C. exhibited equally strongly in both the ultimatum and dictator games. D. rarely exhibited in either the ultimatum or dictator games.