Which of the following is not an example of a commonly tax-funded program?
A. Public education.
B. Highways.
C. Housing to those in need.
D. Oil and gas production.
D. Oil and gas production.
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Patents
A) are a legal barrier to entry. B) remove legal barriers to entry. C) create economies of scale. D) decrease the incentive to innovate. E) are prohibited in the United States.
What happens to a country's production possibility frontier if it experiences a natural disaster such as a hurricane or an earthquake? Explain
What will be an ideal response?
If Dawson prefers pizza to hamburgers and hamburgers to hot dogs, then if preferences are transitive
A) she must prefer pizza to hot dogs. B) she could prefer hamburgers to pizza on some occasions but not hot dogs to pizza. C) she could prefer hot dogs to pizza on some occasions but not hamburgers to hot dogs. D) at times she could be indifferent among the three items.
Which of the following represent examples of adverse selection?
A) Unhealthy people are more likely to want health insurance. B) Careless drivers purchasing extra auto insurance. C) Risk averse individuals choosing to buy extra insurance. D) all of the above E) A and B only