Which of the following is NOT related to the government's political function of income redistribution?
A) providing money transfer payments
B) excise tax on cigarettes
C) Social Security
D) in-kind transfers
Answer: B
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Which of the following events create an outward shift of the production possibilities curve?
A. The United States moves resources from the production of goods for domestic production to the production of goods for export. B. Tax reductions reduce the cost and increase the amount of investment in factories, machinery, and research and development. C. There is an migration of young people to another country where there is more political freedom. D. The unemployment rate falls from 33 percent to 12 percent.
Refer to the scenario above. Which of the following is likely to be true in this case?
A) A unique Nash equilibrium will occur. B) A socially inefficient equilibrium will occur. C) Multiple equilibria will occur. D) A dominant strategy equilibrium will occur.
If the marginal social benefit exceeds the marginal social cost of producing the next kilowatt hour of electricity, then it is efficient to produce as many kilowatt hours as possible
Indicate whether the statement is true or false
Human capital is increased when a firm makes investments that raise workers' productivity.
A. True B. False C. Uncertain