A government-sponsored good is one that
A) everybody is willing to support with funding contributions.
B) is inherently valuable.
C) the political process has determined socially desirable.
D) everybody will receive concrete benefits from.
Answer: C
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In the early 1960s South Korea was an extremely poor country. However, in 1963, the country began a remarkable economic ascent. What was a direct cause of this?
A) a shift in strategy that emphasized exports rather than imports B) an increase in wages C) an increase in the labor force D) an increase in the money supply E) an emphasis on education, leading to a highly productive labor force
A certain magazine offers its subscribers the opportunity to "Buy Now and Save." If at the time their subscription renewal is due they agree to pay for 2 years rather than 1, the renewal price will be $50 per year rather than the usual $60 per y
At what interest rate will the consumer, who is certain she will subscribe to the magazine for the next 2 years, decide to "Buy Now and Save"? A) any interest rate under 50 percent B) any interest rate over 1.5 percent C) any interest rate over 150 percent D) any interest rate under 5 percent E) She will always take this offer if she is absolutely certain to buy the magazine for another 2 years.