You save $10 on gas every week because you take the bus to school. You have class 5 days a week. What is your average benefit per day of taking the bus to school?
A. $0
B. $5
C. $2
D. $10
Answer: C
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A rise in the value of a currency is called a(n)
A) consolation. B) integration. C) appreciation. D) depreciation.
A school of tuna swimming in the ocean is
A) nonexcludable and rival. B) excludable and rival. C) nonexcludable and nonrival. D) excludable and nonrival.
Why are time series data unlikely to give an accurate estimate of demand?
Why is free trade considered beneficial when consumers pay higher prices for products than they would have within a strictly domestic market?
a. Economists place more emphasis on producers and supply than they do on consumers and demand. b. Losses experienced within the domestic market are offset by gains within developing countries. c. The higher prices paid within the domestic market are temporary and usually decline in time. d. Negative effects experienced by consumers are offset by gains experienced by producers.