Which category has the highest amount of state and local spending?
a. education
b. police
c. firefighting
d. transportation
a. education
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Refer to Table 2-10. What is Barney's opportunity cost of making a unicycle?
A) 2 pogo sticks B) 2.8 pogo sticks C) 1.75 unicycles D) 1/2 of a pogo stick
Unregulated markets will tend to
A. rapidly deplete any natural resource. B. naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. C. naturally conserve a depletable resource by pushing up its price at a constant rate every year. D. deplete a resource unless new supplies are found.
Using an equation, explain why governments prefer to avoid excessive current account surpluses?
What will be an ideal response?
Suppose the federal government allows labor unions to act as the sole seller in labor markets, but the government collects an annual $10,000,000 "administrative fee" from each union in this situation
Assuming this fee is not so large that it forces the unions to disband, what is the impact of this fee on the equilibrium wage and employment level in the monopolized labor market? A) Wages and employment decline. B) Wages increase and employment declines. C) Employment increases and wages decline. D) No change in wages or employment levels.