Which of the following is the best example of a public good?
a. food stamps
b. police services
c. trash removal
d. a restaurant meal
e. an IPad
B
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In economics, technology only refers to the development of new products
Indicate whether the statement is true or false
Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy. B) China's transition strategy was considered gradualist. C) Russia chose a rapid transition strategy. D) Russia's transition was aided by the large number of workers it had in heavy industry. E) China's transition was aided by the large number of workers it had in rural agriculture.
Which of the following goods is likely to have the most elastic demand over the relevant range of prices?
a. insulin b. eggs c. milk d. Pepsi Cola e. gasoline
In practice, taxes on emissions of pollutants have been found to
A. be ineffective in encouraging firms to pollute less. B. significantly reduce pollution by taxed firms. C. be less reliable in reducing pollution than direct controls on pollution. D. cause failures of the pricing system.