Using expansionary policies to combat a recession would:
A. increase a budget deficit.
B. increase a budget surplus.
C. decrease discretionary spending.
D. increase federal revenue.
Answer: A
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Which of the following is determined using the rule-of-reason analysis?
A) output restrictions B) resale price maintenance C) bid rigging D) market division
The law of supply implies that the supply curve is
A) flat. B) upward sloping. C) downward sloping. D) vertical.
A government-sponsored good is one that
A) is desirable to no one but ruled desirable by the court system nonetheless. B) everyone agrees is socially desirable. C) freely competitive markets have determined is socially desirable. D) the political process has determined is socially desirable.
Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100,000 and the citizens of Toadhop did not work together the amount
of flood control purchased would be a. 0 b. 10 c. 25 d. 70