At the college level there is complete school choice. a. True b. False ANSWER a
Date: September 9th, 2020
The smaller the percentage of voters required for collective action, the higher the external costs. a. True b. False ANSWER a
Date: September 9th, 2020
As is shown by the example of college dropout Bill Gates, more education does generally not pay off. a. True b. False ANSWER b
Date: September 9th, 2020
If the “Marginal Congestion Cost” for a public good is constant then the optimal number of users is infinite a. True b. False ANSWER b
Date: September 9th, 2020
A tax of $5 per airplane ticket is _____. a. a unit tax b. an ad valorem tax c. an income tax d. a value-added tax ANSWER a
Date: September 9th, 2020
Define the benefit principle. List two real world taxes that have the features of a tax based on the benefit principle. Why can’t the benefit principle be the sole principle of taxation? What will be an ideal response? ANSWER The benefit principle states that the people who benefit from the government’s expenditures should be […]
Date: September 9th, 2020
About 1.7 percent of elementary and secondary students were educated at home in 1999. a. True b. False ANSWER a
Date: September 9th, 2020
The above figure shows the isoquants for producing steel. Constant returns to scale are A) present when producing less than 10,000 tons. B) present when producing between 10,000 and 20,000 tons. C) present when producing more than 20,000 tons. D) never present. ANSWER B
Date: September 9th, 2020
In 1999, around 24 percent of college students attended private schools. a. True b. False ANSWER a
Date: September 9th, 2020
What is the ability-to-pay principle of taxation? List one strength and one weakness of the ability-to-pay principle as a guide to tax policy. What will be an ideal response? ANSWER The ability to pay principle states that individuals should pay taxes in proportion to their ability to pay. A major strength of the ability-to-pay […]
Date: September 9th, 2020
