Individuals conscripted into military service _____. a. are forced to work for less than the market wage b. bear a heavy tax burden c. are not necessarily those with a comparative advantage in being a soldier d. all of the above ANSWER d
Date: September 9th, 2020
An individual who is only willing to pay a relatively low amount for a particular good A) would fall in the upper portion of the demand curve. B) would fall in the middle portion of the demand curve. C) would fall in the lower portion of the demand curve. D) would not be considered part […]
Date: September 9th, 2020
The lemons problem is due to A) asymmetric information. B) moral hazard. C) hidden actions. D) symmetric information. ANSWER A
Date: September 9th, 2020
Once a government program is put into place, the employees of the bureau put in charge of administering the program _____. a. become profit maximizers b. begin working in the public interest c. start rent seeking d. become an interest group ANSWER d
Date: September 9th, 2020
If a bank offers mortgages that do not require the normal 20% down payment, the bank encourages A) people who know they might not pay off the mortgage. B) people who can’t afford the down payment but can pay off the mortgage. C) people who know that they are going to pay off the mortgage. […]
Date: September 9th, 2020
IRA stands for Individual Retirement Asset. a. True b. False ANSWER b
Date: September 9th, 2020
The quantity demanded for a good A) must equal the quantity actually sold. B) can be less than the quantity actually sold. C) can be greater than the quantity actually sold. D) is always greater than the quantity actually sold. ANSWER C
Date: September 9th, 2020
A federal system of governments can limit the problems posed by special interests because _____. a. it provides voters with other governments to compare to their own b. it increases the number of legislatures to oversee the bureaucracies c. it decreases rational ignorance d. b and c ANSWER a
Date: September 9th, 2020
It is easy to define income for tax purposes. a. True b. False ANSWER b
Date: September 9th, 2020
The decline in the percentage of the federal government’s budget devoted to national defense is evidence of the lack of new demand for U.S. military activity. a. True b. False ANSWER b
Date: September 9th, 2020
