Merit is judged by one's ability to produce
A. what is considered valuable by society.
B. what is considered beneficial to society.
C. what is considered useful by society.
D. all of these.
Answer: D
You might also like to view...
Adverse selection will occur in a market as a result of
A) rational ignorance. B) moral hazard. C) the sale of "lemons." D) asymmetric information.
If the government taxes a good that generates a negative externality, then the government:
A. will generate tax revenue, but lower economic surplus. B. can increase total economic surplus, but tax revenue will fall. C. will neither increase total economic surplus nor generate tax revenue. D. can increase total economic surplus and generate tax revenue.
If the reserve ratio was 100 percent, then:
A. maximum lending would occur. B. banks would create money in the economy. C. banks would lend all of their deposits. D. no lending would occur using deposits.
To promote increased use of port facilities in a major coastal? city, a state government has decided to construct a? state-of-the-art lighthouse at a projected cost of? $10 million. The state proposes to pay half this cost and asks the city to raise the additional funds. Rather than raise its? $5 million in funds via an increase in city taxes and? fees, however, the? city's government asks major businesses in and near the port area to contribute voluntarily to the project. The city is likely to face problems in raising the funds because
A.the combination of public and private monies will create doubt as to the? lighthouse's legal owner.
B.individual businesses may presume that others will pay for the lighthouse so that they can escape paying for their portion without causing a reduction in the? structure's benefit..
C.major businesses in and near the port area are probably too numerous for the city to contact.
D.the businesses will demand tax breaks as compensation for their contributions.