In terms of economic organization, the main difference between high schools and colleges is _____. a. that most colleges are monopolies while high schools are highly competitive b. that most colleges are for-profit institutions while high schools are public nonprofits c. that more market mechanisms are used at the college level d. there are no […]
The results of human action but not of human design a. have traditionally led to anarchy b. can easily be converted into collective decision-making c. have frequently evolved over time into self-enforcing social institutions d. is in actually the result of planned education funding ANSWER c
Welfare programs satisfy the criteria of the benefit principle. a. True b. False ANSWER b
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
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
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 […]
Philosopher John Rawls developed a thought experiment to help determine a standard by which we could say individuals are in agreement with the constitutional rules and, thus, actions of government. Behind his “veil of ignorance” _____. a. people know nothing about their friends and family b. people know nothing about themselves c. people know nothing […]
A complete understanding of tax policy requires knowledge of the principles of equity and efficiency in taxation, as well as awareness of _____. a. business b. sociology c. ethics d. politics ANSWER Tax Policy in the Real World
An advantage of charter schools is they _____. a. educate students at a lower cost than traditional public schools b. increase the amount of competition in the public school system c. have innovative curriculums that lead to rapid student improvement in most cases d. a and b ANSWER d
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
