The funds to pay for police protection typically came from taxes because
What will be an ideal response?
police protection is hard to provide exclusively to those who pay for it.
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Most governments subsidize basic education because
A) there are external costs associated with well educated citizens. B) the marginal social benefit of education is greater than the marginal private benefit. C) of the existence of private schools. D) None of the above answers are correct.
From 1970 to 2010, the real price of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs?
A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs. B) A shift to the right in the supply curve for eggs and a shift to the left in the demand curve for eggs. C) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs. D) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
Refer to the data in Figure 22.1. The total fixed costs for this firm are approximately
A. $600. B. $50. C. $100. D. $200.
Spending on programs for which there is an existing legal obligation is labeled
A. entitlement spending. B. obligatory. C. discretionary. D. mandatory.