In the above figure, the economy initially is at point B. Then price level rises by 10. The wealth effect will help
A) move the economy to point A.
B) move the economy to point C.
C) move the economy to point D.
D) keep the economy to point B.
B
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Broomfield city council is deciding how many police officers the city needs. Broomfield's population is 10,000 people. The marginal cost of a police officer is $60,000 per year
The marginal benefit schedule of an average city resident from police protection is shown in the table above. Police protection is a public good. The marginal benefit for all of Broomfield from hiring the 4th police officer is A) $56,000. B) $5.60. C) $8,000. D) $6.00.
TANF sets a lifetime cap for benefits at 10 years
a. True b. False Indicate whether the statement is true or false
Characteristics of the Swiss health care system include:
a. a nationalized hospital system where most clinicians are government employees. b. long waiting lists for all elective surgeries. c. individual insurance policies with age-related premiums issued at birth. d. the ability to "opt out" of the government-run health insurance system and seek private coverage. e. government-run insurance coverage financed via payroll taxes.
In the short-run framework, budget deficits should:
A. be run on a temporary basis whenever the economy is below potential output. B. be run on a permanent basis since they can always be financed by printing money. C. never be run since they slow economic growth over the long run. D. never be run since they crowd out investment in the short run.