The fairness of distributing goods and services based on marketable skills is ______.
a. universally accepted
b. a divisive issue
c. universally rejected
d. seldom debated
b. a divisive issue
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After calculating net domestic product at factor cost, to calculate GDP using the income approach, in part we must add
A) interest, rent, and profit. B) wages. C) indirect taxes and depreciation. D) net operating surplus. E) subsidies.
The absolute value of the slope of an indifference curve is called the:
a. marginal rate of transformation. b. transitivity slope. c. indifference rate of preference. d. marginal rate of substitution.
Briefly explain what the sacrifice ratio is and how policy makers can use it in their decision making. Then give an example of policymaking using the sacrifice ratio that highlights the limits of this tool.
What will be an ideal response?
The free-rider dilemma is associated with:
A.) Private goods. B.) Public goods. C.) Externalities. D.) Market power.