Answer: D. b and c
Some economists contend that in-kind transfers should be included in the calculation of an individual's income because
A. in-kind items do not cost anything
B. simple money income is not a complete measure of one's command over goods and services
C. in-kind items make a person "better off" than the person's actual money income would lead us to believe.
D. b and c
Economics
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Nona has just gone on a bike ride for an hour and says it gave her a utility of 7. If she chooses to continue to ride her bike for another hour:
A. we can assume she will get at least a marginal utility of more than 7. B. we can assume she will get a marginal utility of 7. C. we can assume she will get a marginal utility of less than 7. D. we can assume Nona's total utility will fall because of diminishing marginal utility.
Economics
The student government associations at several universities have experimented with purchasing bicycles to leave around campus for everyone's use. Anyone who needs the bike can use it, and they are not allowed to lock the bike up or take it home, but rather must leave it on campus for someone else to use. Economic theory would predict that
a. students will take better care of these commonly owned bicycles than they do their own bicycles. b. students will take equally as good care of these commonly owned bicycles as they do their own bicycles. c. students will not take as good of care of these commonly owned bicycles as they do their own bicycles. d. because universities have a lot of money, these bikes will be better maintained than the ones owned privately by college students who tend to have little money.
Economics
The due process (or takings) clause is found in the
a. Fifth Amendment b. The Declaration of Independence c. The preamble to the U.S. Constitution d. In New Deal legislation e. First amendment
Economics
Based on the chart for federal government expenditures, what are the three highest expenditure categories?
a. transfer payments, interest payments, and other expenditures
b. transfer payments, defense spending, and grants to state and local governments
c. defense spending , grants to state and local governments, and other expenditures
d. interest payments, grants to state and local governments, and other expenditures
Economics