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ID: 1113238 • Letter: B
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blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=.32 5998 QUESTION 4 A big concern with trying to measure utility is that a, each individual has a unique personal scale for his or her utility measures. Ob. to measure utility, you need monetary values of the goods and services. Oc. individuals cannot place utility values on different goods and services. Od. there is no distinction between utility for goods and utility for services. O e. it is difficult to measure marginal utility. QUESTION 5 Proponents of fairness would likely believe that a. the rich should pay higher tax rates on their personal income than the poor do, a tax s Ob. a bigger, less equal economic pie is more favorable than a smaller, more equal economic Oc. the poor should pay higher entrance fees to national parks whenever an entrance fee appl O d. f the poor can receiveteebaby formula and diapers from the government, then the rich s and diapers from the government. e. the poor should pay higher tax rates on their personal income than the rich do, a tax struct QUESTION 6 After Luis received health insurance from his job as an accountant, he decided to become a skydi health insurance from his employer would cover most of his medical costs if he were injured. Which a. The principal-agent problem became more severe. Ob. The moral hazard problem decreased in intensity. O c. The moral hazard problem increased in intensity O d. The adverse selection problem became more severe. Oe. The principal-agent problem became jess severe. QUESTION 7 Click Save and Submit to save and submit. Click Save All Answers to save all answers 23Explanation / Answer
4.
d. each individual has a unique personal scale for her or his utility measures.
Different individuals obtain different utility from different goods and hence it is difficult to measure the utility .
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