Well-being can be increased by:
A. increasing the availability of accurate information.
B. technologies that help people share more and better information.
C. policies that help people do business more efficiently.
D. All of these are true.
Answer: D
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If Sam is willing to pay $50 for one good X, $30 for a second, $20 for a third, $8 for a fourth, and the market price is $10, then Sam's consumer surplus is:
a. $10 b. $40. c. $70 d. $100.
Is the national debt a burden to future generations?
A. No, as long as foreigners own a significant share of the national debt. B. No, as long as the national debt is owned purely by U.S. citizens. C. Yes, debt is always a burden to future generations. D. Yes, unless foreigners increase their share of the national debt.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. exactly 30. B. exactly 60. C. fewer than 30. D. more than 30.
Which of the following taxes is most easily shifted?
A. a tax on imported rice B. an income tax that allows for no deductions of exemptions C. a uniform tax on land D. a retail sales tax