An example of a nontradable good is:
A. fresh pizza.
B. a double-decker bus tour of London.
C. insurance services.
D. All of these would be considered a nontradable good.
Answer: B
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There are no arguments in favor of inheritance taxation on efficiency grounds, only on equity grounds
a. True b. False
Match each of the following characteristics or scenarios with either the term negative externality or the term positive externality.
a. Overallocation of resources: b. Tammy installs a very nice front garden, raising the property values of all the other houses on her block: c. Market demand curves are too far to the left (too low): d. Underallocation of resources: e. Water pollution from a factory forces neighbors to buy water purifiers:
Refer to the figure above. If the monopolist is regulated to charge the fair-returns price for the profit-maximizing output it produces, ________
A) it makes a profit of $100 B) it makes a profit of $200 C) it makes a loss of $100 D) it makes zero profit
A reentrant is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.