Which of the following is an example of a seller?
a. Abrams, Kent, and Wallace, Ltd. provide legal services.
b. Charles obtains a part for his automobile.
c. Optics, Inc. updates their lens-making equipment.
d. Solar, Ltd. hires a top salesperson for its new line of products.
a. Abrams, Kent, and Wallace, Ltd. provide legal services.
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Government policy under neoclassical theory should deal with
a. frictional unemployment. b. cyclical unemployment. c. natural unemployment. d. all forms of unemployment.
Historically, which of the following has had the highest average annual rate of return?
A) U.S. Treasury bonds B) corporate bonds C) money market mutual funds D) corporate stocks
The government in Katrina’s country does little to enforce property rights. Which statement about this situation is most likely true?
a. The government is encouraging economic growth. b. People in Katrina’s country are saving most of their incomes. c. People in Katrina’s country are unwilling or unable to invest. d. The economy is growing too rapidly for the government to keep up.
To achieve social efficiency, the size of an effluent tax should be based on:
A. the external cost created by the pollutant. B. people's willingness to pay for a cleaner environment. C. the expense of installing new "green" equipment. D. the number of free riders in the industry.