If the government implements a tax on the general public to pay for street lighting in one neighborhood,
A) the tax redistributes well-being and the benevolent social planner is not pleased.
B) the tax redistributes well-being, but the benevolent social planner is pleased.
C) the tax reduces well being and the benevolent social planner is not pleased.
D) the tax has no bearing on well-being and the benevolent social planner is indifferent.
A
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A constant marginal rate of substitution between two goods implies that they are
A) perfect complements. B) perfect substitutes. C) independent goods. D) unattainable.
A college student's choice of a major and an occupation reflects:
a. each college student's future expectation of wage inflation. b. a lack of information on the part of the students. c. a lack of proper education and vocational training. d. the return on investment in human capital. e. the opportunity costs each college student faces.