Welfare programs satisfy the criteria of the benefit principle. a. True b. False ANSWER b
Date: September 9th, 2020
In a repeated prisoner’s dilemma situation, cooperation can be achieved _____. a. if player A cooperates as long as player B cooperates b. if player A continually defects on player B c. if player A cooperates regardless of what player B does d. never ANSWER a
Date: September 9th, 2020
The above figure shows the market for apples. If the government restricts output to no more than 300 pounds, then A) 300 pounds of apples will be sold at $3. B) 200 pounds of apples will be sold at $3. C) no apples will be sold. D) None of the above. ANSWER B
Date: September 9th, 2020
Even if college imparted no additional knowledge to its graduates, they are likely to earn more because _____. a. firms like to say they only hire college graduates b. of the connections that one makes in college c. a college degree sends a signal of innate ability to employers d. their parents help them get […]
Date: September 9th, 2020
Horizontal equity is extremely compatible with the benefit principle. a. True b. False ANSWER b
Date: September 9th, 2020
Employing the TIT for TAT strategy in a repeated prisoners’ dilemma game means _____. a. that you will lose b. defecting when the other person cooperates c. attacking when the other person defects d. cooperating as long as the other person cooperates ANSWER d
Date: September 9th, 2020
Optimal constitutional rules should _____. a. be decided by a supermajority of the current legislature b. be decided by a majority of people in a society c. be agreed upon by a consensus of the writers of the constitution d. have the support of a consensus of people in a society ANSWER d
Date: September 9th, 2020
The rate of homeschooling is higher _____. a. when the mother is uneducated b. where regulations on homeschooling are onerous c. in affluent and homogenous areas d. in areas where school quality is low relative to homeschooling ANSWER d
Date: September 9th, 2020
Equity issues in taxation are inherently positive in nature. a. True b. False ANSWER b
Date: September 9th, 2020
From an economic point of view, the idea of establishing a government to further the will of the majority _____. a. means that marginal political costs and marginal political benefits are being equalized b. makes sense because the majority could exploit the minority c. does not make any sense because the majority could exploit the […]
Date: September 9th, 2020
