1. The bottom 20% or the middle 20% of families is a static group.

True/False

2. Business solutions e.g. offshoring labor, may make sense at the individual company level but not at the aggregate national level.

True/False

3. People judge their incomes relative to incomes of people around them, not relative to people everywhere on the planet or to people in years past.

True/False

4. Cicero wrote that good government was when the governors/politicians worked for the common good.

True/False

5. On the whole, US culture favors public solutions over market solutions.

True/False

6. In the struggle and lobbying for political influence, smaller groups tend to lose out to larger groups.

True/False

7. Demerit goods are goods whose consumption the public sector discourages, based on a presumption that individuals do not adequately weigh all the costs of these goods and thus should be induced to consume less than they otherwise would.

True/False

8. The tax incidence refers to how much taxes various parties to a transaction will pay.

True/False