Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis
A) is greater along curve I.
B) is greater along curve II.
C) is the same along both curves.
D) cannot be compared for the two curves without more information.
B
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When someone asks how much money you made this year, they are using the term "money" correctly
a. True b. False Indicate whether the statement is true or false
Mark and John are 10-year-old twins who do not get along. They have opened separate lemonade stands and are competing with each other, selling lemonade on their block. Their mother observes that Mark is very good at making lemonade and John is an
excellent young salesman. She suggests they both could make more money if they worked together. John counters that two stands will always make more money than one. Who is right? Why?
Special interest groups have a large incentive to be ________ about legislation that benefits them directly, whereas voters tend to be ________ regarding these issues.
A. rationally ignorant; irrationally ignorant B. rationally informed; rationally ignorant C. irrationally informed; rationally ignorant D. rationally informed; irrationally informed
In a progressive tax structure,
A. the marginal tax rate exceeds the average tax rate. B. vertical equity exists. C. the average tax rate rises as income falls. D. all the choices.