The right to own or control a resource is called a ________
Fill in the blank(s) with correct word
property right
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Joe spends $72 on gasoline and sandwiches. The price of a gallon of gasoline is $3 and a sandwich is $4
Placing the quantity of sandwiches on the left side, what is Joe's budget equation? If sandwiches are measured on the vertical axis, what is the slope of Joe's budget line?
A good is path dependent when
A) it can only be used in one way. B) people who move location follow the path of people who moved before them. C) consumers get utility from consuming goods that others are consuming, such as restaurants. D) the first technology that was adopted has an advantage over a better technology that came later.
According to the graph shown, if this economy were open to free trade, domestic producers would produce how many units?
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 60
B. 115
C. 150
D. 90
What is the difference between multilateral aid and bilateral aid?
a. Multilateral aid is country to country, and bilateral aid comes from organizations using funds from many countries. b. Multilateral aid comes from organizations using funds from many countries, and bilateral aid is country to country. c. Multilateral aid is country to country, and bilateral aid comes from philanthropic organizations. d. Multilateral aid comes from philanthropic organizations, and bilateral aid comes from organizations using funds from many countries.