Which of the following is NOT a function of the federal government?
A) providing public goods and services
B) imposing a personal income tax
C) making transfers to state and local governments
D) making social security and welfare payments
E) collecting property taxes
E
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Refer to the data. If the marginal cost of producing this good at the optimal quantity is $4, the optimal quantity must be:
Answer the question on the basis of the following information for a public good. P a and P b are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it. These people are the only two members of society.
A. 1 unit.
B. 2 units.
C. 3 units.
D. 4 units.
The difference between household assets and liabilities is referred to as:
A. Debt B. Income C. Net worth D. Expenditures