Refer to the information below. If Normal University undertakes program Level Three:
Answer the question based on the following information. Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives.
A. Total benefits will be less than total costs
B. Marginal costs will exceed marginal benefits
C. There would be an under-allocation of resources to crime control
D. There would be an over-allocation of resources to crime control
C. There would be an under-allocation of resources to crime control
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An outcome in which all players choose the best strategy they can, given the choices of all other players, is called:
A. a dominant strategy. B. collusion. C. a Nash equilibrium. D. the prisoner's dilemma.
Commercial bank reserves are an asset to commercial banks but a liability to the Federal Reserve Bank holding them.
Answer the following statement true (T) or false (F)
Which of the following illustrates the principle of second best?
A. The government decides to impose taxes on all automobiles rather than imposing a tax only on luxury automobiles. B. The government imposes a tax on a meat processing plant that equals the cost of cleaning the lake damaged by the waste discharged into the lake by the meat processor. C. A tax imposed on land, because this tax distorts economic decisions less than taxes on other factors of production. D. The government imposes taxes on cigarettes and the tax revenue collected is used to pay for health care.
What is the relationship between net exports, the government sector surplus or deficit, and the private sector surplus or deficit?
What will be an ideal response?