Which of the following is not an example of a public good?
A. space exploration
B. levees
C. parks
D. a Big Mac
Answer: D
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Mary Ellen lives in a large city and earns $100,000 a year. Her sister, Molly, lives in a small rural community and earns only $20,000 a year
Based on this information, can you conclude that Mary Ellen is better off than her sister? Explain your answer.
The Social Security program is financed directly from
A) voluntary contributions by the elderly. B) sales taxes on goods with inelastic demand. C) payroll taxes. D) poll taxes.
The conflict between the Vice President of Marketing and her sales staff arises because
a. the sales staff are unwilling to offer discounts b. the Vice President does not want to negotiate aggressively enough c. the sales staff want to negotiate too aggressively d. the Vice President is less willing to offer discounts to make the sale
Compared to pure competition, monopolistic competition:
A. provides greater product differentiation at the cost of some excess capacity. B. offers less product differentiation but attains equal productive efficiency. C. offers less product differentiation and lower productive efficiency. D. provides greater product differentiation and achieves greater productive efficiency.