Microeconomics

The geographic organization of the U.S. Congress into districts _____.

The geographic organization of the U.S. Congress into districts _____. a. sometimes encourages and sometimes discourages the representation of special interests depending upon the shape of the size of the government program b. has no relationship to the representation of special interests c. discourages the representation of special interests d. encourages the representation of special […]

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Date: September 9th, 2020

The optimal level of military expenditures is the level at which _____

The optimal level of military expenditures is the level at which _____. a. a country is completely protected from foreign invasion b. a country spends more on national defense than all other countries along it to win an arms race c. a country spends more on national than its rivals d. the marginal benefit of […]

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Date: September 9th, 2020

Your friend Diana tells you that she thinks that her favorite softball

Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n) A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference. […]

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Date: September 9th, 2020

The dollar value of the maximum amount one can consume over a given pe

The dollar value of the maximum amount one can consume over a given period without reducing the value of one’s wealth is the _____. a. definition of income used to approximate in-kind benefits b. Fisher definition of income c. Laffer definition of income d. Haig-Simons definition of income   ANSWER d  

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Date: September 9th, 2020