Chapters 16-24 Quizzes

Chapters 16-24 Quizzes - Chapter 16 The economic rule for...

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Chapter 16 The economic rule for policymaking is maximize total benefits minus total costs One set of circumstances that could be a common reason why competitive markets may not lead to a social optimum is when there are externalities A direct implication of a decreasing marginal utility of income is that a dollar is worth more to a poor person than a rich person Chapter 17 Unicef estimates that over 9 million lives per year are saved by immunization. The World Bank recommends promotion of a vaccine for hepatitis and yellow fever combined with vitamin A and iodine Measles associated diarrhea is more likely to lead to death than other diarrheas. Chapter 18 Progressive taxes are taxes that take a greater percentage of income from the rich than they do from the poor. Globalization refers to a policy of increasing integration of countries in the world. Exports from Southeast Asian countries grew over 12% per year from 1985 to 1995.
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Chapters 16-24 Quizzes - Chapter 16 The economic rule for...

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