For activities in which the benefits are concentrated and the costs widespread, governments are likely to undertake
a. too little of these activities relative to what would be efficient.
b. too much of these activities relative to what would be efficient.
c. exactly the amount of these activities that would be efficient.
d. none of these activities.
B
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Suppose that Rosa is considering migration to another country. To move, she will have to spend $5000 on transportation and $4000 in application and other processing fees. Rosa's stream of future earnings in her home country is $500,000. She expects to earn a stream of future earnings of $800,000 in another country. Based on this information, Rosa's implicit cost of migrating is:
A. $9,000 B. $500,000 C. $509,000 D. $5,000
Suppose the market for a good is initially in equilibrium. Which of the following is most likely to happen if supply increases by a smaller amount than the increase in demand?
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The sharp rise in the debt-to-GDP ratio in 2008-2009
a. was exclusively automatic due to the effect of declining income on government outlays and tax revenues. b. was exclusively due to an aggressive fiscal policy. c. was exclusively due to military expenditures. d. was partly automatic due to the effect of declining income on government outlays and tax revenues, and partly due to an aggressive fiscal policy. e. was exclusively due to foreign aid expenditures.
In 2000, the ________ unanimously adopted the Millennium Development Goals, a set of quantifiable, time-based targets for developing countries to meet.
A. World Bank B. United Nations C. World Economic Council D. Global Justice League