Liberals believe
a. that the government should choose just policies as evaluated by an impartial observer behind a "veil of ignorance.".
b. in the assumption of diminishing marginal utility.
c. that everyone in society should have equal utility.
d. that the government should not redistribute income.
a
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Individuals who are more risk averse
a. buy less insurance b. buy more insurance c. are not more or less inclined to buy insurance d. are philosophically opposed to insurance
Suppose you are looking to add more capacity to your current manufacturing plant. The new project will cost $6 million up front and is projected to increase revenue $1.5 million a year for each of the next 5 years. If the interest rate is 8%, what is this project's NPV and is it a profitable investment?
A. $10,935; yes it is profitable B. -$10,935; no it is not profitable C. $944,444; yes it is profitable D. -$944,444; no it is not profitable
Figure 4-7
Refer to . Which of the following is true for the tax illustrated?
a.
The tax increases the price of gasoline by $.60.
b.
Since the demand for gasoline is more inelastic than the supply, consumers bear most of the burden of the tax.
c.
Since the demand for gasoline is more elastic than the supply, consumers bear most of the burden of the tax.
d.
Since the supply of gasoline is highly inelastic, the primary burden of the tax is imposed on the suppliers of gasoline.
What most likely causes the supply curve to shift from S1 to S2?
a. an increase in demand for a product
b. an increase in market price
c. an increase in firms entering the market
d. an increase in quantity sold