Price floors in agriculture lead to
A) efficient farming techniques being employed.
B) surpluses of supported farm products.
C) more competition in farming.
D) the most efficient market solution.
B
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Governments run a balanced budget when
A) their debt is interest-free. B) transfer payments equal zero. C) revenues equal spending. D) revenues exceed spending.
If inflation is unanticipated, no redistribution of income can occur
Indicate whether the statement is true or false
Typically, total utility derived decreases as more of a good is consumed
a. True b. False Indicate whether the statement is true or false
When economists propose taxes as a way to balance out the presence of externalities, they try to propose taxes:
A. on the action that creates the externality, rather than the externality itself. B. based on the externality itself, rather than the action that creates it. C. on what is simplest to implement. D. on what will likely generate the most revenue.