Referring to Table 4.2, Box K should be filled with 
A. $7.50.
B. $2.
C. $12.50.
D. $5.00.
Answer: D
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If private property rights were established in the air, there would probably be
A. more air pollution. B. less air pollution. C. the same amount of air pollution that exists without private property rights in the air. D. better weather.
You are likely to think that the relative price of your good has risen and you should increase your output if you expected
A) the inflation rate to be 10% and the price of your good rose 7%. B) the inflation rate to be 10% and the price of your good rose 10%. C) the inflation rate to be 10% and the price of your good rose 13%. D) the inflation rate to be 0% and the price of your good fell 10%.
The rate of return on bonds is lower than on stocks over time because
A) bond holders cannot diversify. B) bonds have a lower standard deviation in returns. C) stocks have less non-diversifiable risks than bonds. D) bonds are subject to more random risks than stocks.
If the government did not provide national defense, explain why you would be more likely to give money to a Girl Scout who knocks on your door to sell cookies than to give money to a volunteer collecting for the provision of national defense