Which of the following is usually true about government-provided goods?
a. These goods have a zero opportunity cost.
b. These goods are not scarce.
c. People do not have to pay a fee to enjoy these goods.
d. The invisible hand is at work to ensure these goods are provided in the market
c
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In 2012, the U.S. federal government legislation authorized:
A. 152 earmarks totaling $3.3 trillion. B. 2,300 earmarks totaling $8.7 billion. C. 10,160 earmarks totaling $19.6 billion. D. 11,700 earmarks totaling $16.9 billion.
Exhibit 2-17 Production possibilities curve
In Exhibit 2-17, if countries A and B currently have the same production possibilities curve (PPC) as given in the figure, but this year country A locates at point A on its PPC and country B locates at point B on its PPC, then country A:
A. is more efficient than country B. B. will grow at a faster rate than country B. C. will grow at a slower rate than country B. D. is producing more capital goods than country B.