An example of a public good is:
a. a pizza
b. milk.
c. a delivery truck.
d. national defense.
d
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An optimal two-part tariff pricing schedule maximizes consumer surplus
Indicate whether the statement is true or false
For economic purposes in the United States, the working-age population does not include:
A. anyone in the military. B. someone who is 16 and does not want to work. C. someone who is 65. D. anyone without a driver’s license.
The per-unit burden of the tax on sellers is
A. $8 B. $14 C. $6 D. $10
Which of the following statements is true?
A. Taxing the wealthy will lead to a more efficient economy. B. Taxing the poor will lead to a more equal distribution of income. C. A basic trade-off exists between the goals of equity and efficiency for a society. D. The forces of supply and demand will automatically lead to an equitable distribution of income.