Refer to the information provided in Figure 6.8 below to answer the question(s) that follow.
Figure 6.8Refer to Figure 6.8. The ________ movie rental has a marginal utility of zero.
A. first
B. second
C. third
D. fourth
Answer: D
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The government in the country of Zappoo is trying to decide which tax plan to implement. The table above shows three alternative plans. If the government decides to implement a proportional income tax, it will implement tax plan ________
A) A B) B C) C D) None of the above because none of the above are proportional taxes.
If an increase in crime causes households to spend money on police and security systems, GDP will rise
Indicate whether the statement is true or false
A farmer has the ability to grow either corn or cotton or some combination of the two. Given no other information, it follows that the farmer’s opportunity cost of a bushel of corn multiplied by his opportunity cost of a bushel of cotton
a. is equal to 1. b. is greater than 1 but less than 2. c. is equal to 2. d. Not enough information is given to make this determination.
The main reason the usefulness of Pareto optimal policies is limited as a policy guide is that:
A. it is too subjective. B. real-world changes in which more people are helped than are harmed are rare. C. real-world changes in which no one is harmed are rare or nonexistent. D. it is only objective, and good policy also requires a subjective element.