________ attempts to reduce negative externalities by ________
A) Negotiation; discovering who has which rights
B) Negotiation; creating new rights
C) Legislation; creating new rights
D) Legislation; discovering who has which rights
C
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The optimal tax is difficult to determine because although revenues rise and fall as the size of the tax increases, deadweight loss continues to increase
a. True b. False Indicate whether the statement is true or false
Which of the following statements is false?
A) There are always opportunity costs to making choices. B) Because of scarcity, choices must be made. C) Elementary education at public schools is free. D) When government builds a new highway, taxpayers end up with less of some of the things they would otherwise have.
The best definition of GDP is
A. A physical measure of the capital stock of the economy. B. The sum of the physical amounts of goods and services in the economy. C. A dollar measure of final output produced during a given time period within a nation's borders. D. A measure of the per capita economic growth rate of the economy.
Which of the following has the effect of being a built-in stabilizer for the economy?
A. Progressive income tax B. Welfare programs C. Unemployment compensation D. All of the choices are correct