For health care, the perceived marginal benefit ________ the marginal social benefit
A) is less than
B) is greater than
C) is equal to
D) cannot be compared to
A
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Which of the following is likely to happen, if consumption in an economy falls?
A) Asset prices rise. B) Household bankruptcies rise. C) Labor supply falls. D) Mortgage defaults fall.
Property taxes are the product of the tax rate (T) and the assessed value (V). The total property tax collected in your city (P) is: P = T•V. If the value of properties rise 4% and if Mayor and City Council reduces the property the tax rate by 2%, what happens to the total amount of property tax collected? [HINT: the percentage rate of change of a product is approximately the sum of the
percentage rates of change.} a. It rises 6 %. b. It rises 4 %. c. It rises 3 %. d. It rises 2 % e. If falls 2%.
If a good generates an external cost, the market will produce
a. some of the good but not enough b. too much of the good. c. an optimal amount of the good. d. none of the good.
Suppose that the share of population employed in Country C is 50 percent, and that Countries C and D have the same real GDP per capita. Based on the information in the table, what share of Country D's population must be employed?CountryPopulation (millions)Average Labor Productivity ($)A1002,000B15010,000C7525,000D25050,000E9560,000
A. 100.0 percent B. 75.0 percent C. 12.5 percent D. 25.0 percent