Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. A movement from Point A to Point D can be caused by
A. a decrease in nominal income.
B. an increase in nominal income.
C. an increase in the interest rate.
D. a decrease in the interest rate.
Answer: B
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Refer to Scenario 12.1. Suppose that a third friend, Ryan, joins Simon and Paula on their way home from school, and this reduces the probability of any particular individual from stepping forward to help the man being attacked from 70% to 60%
What is the probability of either Simon, Paula, Ryan, or any combination of the three trying to rescue the man? A) 21.6% B) 50.4% C) 72.0% D) 93.6%
A direct implication of the special interest theory of government is that _____
a. political pressure from special interests pushes government to expand b. special interests get whatever they want c. special interests do not get what they want under Incrementalism d. the general public general can apply more pressure than special interests and thus will move the budget in drastic ways, depending upon public sentiment
The utilitarian view of equity would lead to:
A) equal allocations of goods across all persons. B) maximizing the utility of the least-well-off person. C) maximizing the total utility of all society members. D) none of the above
In order to increase society's total welfarer, a production process that produces a negative externality should be
a. taxed b. provided by the government c. ignored d. subsidized e. exported