In the United States, for a $1 fall in state government revenue, the federal government increases transfers by:
A) $2.
B) $1.
C) 30 cents.
D) 15 cents.
Ans: D) 15 cents.
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John loves to travel. He would never—but absolutely never! —turn down the opportunity to go on a trip. This means that, for John,
a. the total utility of travel always increases b. marginal utility of travel never decreases c. the law of diminishing marginal utility does not apply to travel d. marginal utility of travel is always zero e. for every next trip he takes, consumer surplus increases
List the four determinants of an economy's productivity
The tendency of markets to automatically gravitate toward equilibrium is an application of the:
A. Incentive Principle. B. Principle of Comparative Advantage. C. Scarcity Principle. D. Cost-Benefit Principle.
Why does the government work to eliminate artificial barriers to entry?
What will be an ideal response?