The share of GDP taken by taxes has increased dramatically since the 1960s.
Answer the following statement true (T) or false (F)
False
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In-kind transfer payments are _____
a. efficient b. popular with recipients c. paternalistic d. a and b
A typical automobile insurance policy is an example of:
A. property and casualty insurance. B. property insurance only. C. liability insurance only. D. casualty insurance only.
One result of a contractionary monetary policy would be
A. an increase in business investment. B. an increase in the money supply. C. a decline in the price level. D. lower interest rates.
Which of the following is the main reason for externalities?
A. Police enforcement of scalping is not uniformly enforced. B. the lack of organized exchanges for all goods and services C. The production of public goods uses up scarce resources. D. The full cost of a transaction is not borne by the buyer/seller of the product.