All of the following were classical economists EXCEPT
A. David Ricardo.
B. Jean-Baptiste Say
C. Milton Friedman.
D. Adam Smith.
Answer: C
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Allen tutors in his spare time for extra income. Buyers of his service are willing to pay $40 per hour for as many hours Allen is willing to tutor. On a particular day, he is willing to tutor the first hour for $10, the second hour for $18, the third hour for $28, and the fourth hour for $40 . Assume Allen is rational in deciding how many hours to tutor. His producer surplus is
a. $40. b. $64. c. $12. d. $56.
Which of the following is most likely to be a major source of growth in per capita GDP
What will be an ideal response?
Empirically measuring the marginal social benefit of pollution is ________ and empirically measuring the marginal social cost of pollution is ________.
A. difficult; relatively easy B. difficult; difficult C. relatively easy; difficult D. relatively easy; relatively easy
Workers bear the bulk of the payroll tax when labor supply is very elastic.
Answer the following statement true (T) or false (F)