The socialization rationale for public education implies that private schools _____. a. are more segregated along class and perhaps racial lines b. are more homogenous c. are often organized around an exclusionary orientation d. all of the above ANSWER d
Date: September 9th, 2020
Which of the following is not true of collective decision-making costs? a. They impede collective action. b. They are the reason why unanimity rule is not the optimal decision-making rule. c. They imply that simple majority rule is the optimal decision-making rule. d. They increase the closer the decision rule gets to unanimity. ANSWER […]
Date: September 9th, 2020
The principle of vertical equity is satisfied when _____. a. individuals with a greater ability to pay have higher taxes than individuals with a lower ability to pay b. individuals receiving higher benefits from a government program pay higher taxes than those receiving lower benefits c. taxes increase as family size increases d. taxes on […]
Date: September 9th, 2020
A problem with the socialization argument is that _____. a. the organization of public schools often lends itself to segregation b. it is unfair c. students need to learn to be good citizens d. public schools are open to everyone ANSWER a
Date: September 9th, 2020
Collective decision making costs _____. a. decrease as we get closer to unanimity b. increase as more people have to agree c. are an impediment to individual action d. are the reason why simple majority rule is always optimal ANSWER b
Date: September 9th, 2020
The fact that positive externalities may exist in education is not enough to justify government involvement. To justify government involvement, it must be shown that _____. a. the effect of the externalities are large b. the externalities are inframarginal c. people do not internalize the externalities d. education is an investment good ANSWER b […]
Date: September 9th, 2020
Rank-order the following three gifts in terms of potentially providing the highest utility to the lowest: 1 ) A new video game; 2 ) A gift card to a video game store; 3 ) Cash. A) 1, 2, 3 B) 2, 3, 1 C) 3, 2, 1 D) 1, 3, 2 ANSWER C
Date: September 9th, 2020
Which of the following is not a negative externality? a. smog b. noise pollution c. substandard housing d. majority voting ANSWER d
Date: September 9th, 2020
Suppose a tax is implemented to fund low-income housing. Which principle of taxation is most appropriate as a guide to evaluating the tax? a. the benefit principle b. the ability-to-pay principle c. a combination of the benefit principle and the ability-to-pay principle d. the mobility principle ANSWER b
Date: September 9th, 2020
In the above figure, Graph D with Capital on the vertical axis and labor on the horizontal axis implies that A) the marginal product of labor is increasing as more labor is employed. B) the marginal product of labor is decreasing as more labor is employed. C) the capital and labor are perfect substitutes. D) […]
Date: September 9th, 2020
