The small city of Pleasantville is considering building a public swimming pool that costs $1,000. Each resident's marginal benefit of the swimming pool is shown below. It takes a 4/5 majority to pass any tax measure, and all residents must vote.VoterMarginal BenefitKyle$420Dylan$360Fran$350Ronnie$190Sam$170 Building the swimming pool would ________ total economic surplus because ________.
A. decrease; taxes would have to be collected to build the pool
B. increase; the cost of building the pool can be passed to users from other towns
C. increase; the total social benefit of the pool is greater than the total cost of the pool
D. decrease; the total cost of the pool is greater than the total social benefit of the pool
Answer: C
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Incomes for adults vary widely across race and gender in the United States. These differences could be due to:
A. education. B. experience. C. choice of occupation. D. All of these can explain the differences.
Refer to the above table. You are given information on Celine's consumption for 2005 and 2015. Using 2005 as the base year compute the price index for 2015. The index equals
A. 0.4035. B. 247.826. C. 0.2478. D. 40.35.