Using Marginal Analysis, an Economist Would Judge the Proper Distribution

question 36

Multiple Choice

Using marginal analysis, an economist would judge the proper distribution of government spending by comparing

• A)whether the last dollar spent on one program would have been better spent on another.
• B)whether the last dollar spent would have been better left in private hands.
• C)whether the last dollar spent garnered any value to society.
• D)the amount spent with the amount spent in the previous year.

Understand the characteristics and applications of Poisson distribution.

Calculate probabilities and parameters (mean, variance) of Poisson distributed events.

Apply Poisson distribution to model real-world problems.

Understand the relationship between mean and variance in Poisson distribution.

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