Legislation that contains a number of projects benefiting local interests at the expense of the general taxpayer is called
a. balanced-budget legislation.
b. pork-barrel legislation.
c. voucher legislation.
d. public-goods legislation.
B
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One important role for government as referee is in defining and enforcing property rights.
Answer the following statement true (T) or false (F)
The larger the deadweight loss from taxation, the larger the cost of government programs
a. True b. False Indicate whether the statement is true or false
Net investment is
A) the same as gross investment. B) gross investment minus depreciation. C) the same as depreciation. D) the same as wealth. E) gross investment plus depreciation.
Flights to Paris are a normal good and people's incomes rise. At the same time, the price of jet fuel rises. The equilibrium price of a flight to Paris ________ and the equilibrium quantity of flights to Paris ________
A) might rise, fall, or not change; increases B) falls; decreases. C) rises; increases D) rises; might increase, decrease, or not change